Alabama Statutes

§ 45-36-162 — Distribution of Payments

Alabama·Title 45 Local Laws·Ch. 36 Jackson County·Art. 16 Government Operations·Part 3 Tennessee Valley Authority in Lieu of Taxes
(a)Any payments coming into the treasury of Jackson County that are derived, directly or indirectly, from payments by the Tennessee Valley Authority in lieu of payment of taxes shall be appropriated as follows:
(1)One percent to the Jackson County Economic Development Fund paid to the fund monthly until it reaches a balance of one million dollars ($1,000,000); the payments shall continue whenever the balance in the fund drops below one million dollars ($1,000,000). The county commission may invest the funds to the benefit of local governments and entities in the county, and expend the same for disaster relief in the county or for any economic purpose that benefits the county, including, but not limited to, any activity or purpose which provides an incentive for the creation or retention

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Legislative History

(Act 79-473, p. 873, §1; Act 99-550, p. 1194, §1; Act 2012-421, p. 1138, §1; Act 2013-318, p. 1132, §1; Act 2013-435, p. 1742, §1; Act 2016-115, p. 190, §1; Act 2018-270, §1; Act 2018-498, §1.)

Nearby Sections

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