Title 41 — Title 41

This article shall be known and may be cited as the State Products Mart and Coliseum Authority Act. History: (Acts 1965, 1st Ex. Sess., No. 174, p. 224, §1.)

The Legislature finds and declares all of the following: (1) On July 16, 2020, the Governor issued Executive Order No. 720, establishing the Alabama Innovation Commission to “identify policies that will promote entrepreneurship, innovation, and related opportunities in the State …

For the purposes of this article, the following terms have the following meanings: (1) ASPIRING ALABAMIAN. A person who has less than one hundred thousand dollars ($100,000) of household net worth and who satisfies at least one of the following criteria: a. The person has a princ…

(a) The Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate shall present to the Secretary of State an application, signed by each of them, for the formation of the Alabama Innovation Corporation, which may also be known as Innovate …

(a) The corporation shall be under the management and control of a board of directors, and all powers necessary or appropriate for the management and control of the corporation shall be vested solely in the board. The board shall be comprised of both ex officio directors and at-l…

(a) The board shall have all of the powers necessary to carry out and effectuate the purposes of this article. The foregoing sentence shall be construed broadly, so that the failure to state a power of the board shall not be considered a limitation upon the board, so long as the …

The board may enter into contracts, leases, agreements, investments, and may otherwise expend monies without compliance with Article 5, commencing with Section 41-4-110, of Chapter 4 of Title 41 and Chapter 2 of Title 39. Solely as a result of entering into contracts, leases, agr…

(a)(1) For the benefit of the state and the residents thereof, there is created an irrevocable fund named the Alabama Innovation Fund, which shall be funded from all of the following sources: a. Proceeds of any gifts, grants, or contributions. b. Revenue sources as directed by, a…

(a) The fund shall be held in perpetual trust and shall not be appropriated by the Legislature or expended or disbursed for any purpose other than as provided in this article. Earnings on the fund’s investments shall remain a part of the fund. The board may expend the fund’s earn…

At any time, the board, by majority vote, may cause its application for formation to be amended by having three of its directors file an amendment with the Secretary of State, which shall be sworn to by each signatory thereto before an officer authorized to take acknowledgments t…

At any time, the board, by three-quarters vote, may dissolve the corporation by having three-quarters of its directors file with the Secretary of State an application for dissolution, which shall be sworn to by each signatory thereto by an officer authorized to take acknowledgmen…

When used in this article, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise: (1) CORPORATION. A corporation organized pursuant to the provisions of this article. (2) BOARD. The board of directors of the corporatio…

This article shall be liberally construed to effectuate its purpose. History: (Act 2021-455, §1.)

The Alabama Innovation Corporation shall report to the Legislature beginning in 2023, pursuant to Section 40-1-50, an assessment of the corporation efforts to accomplish the goals pursuant to this article. History: (Act 2021-455, §2.)

Given the collaborative and dynamic nature of accelerator programs and Innovate Alabama generally, the working groups, task forces, and subcommittees of Innovate Alabama, shall not be subject to Chapter 25A of Title 36, notwithstanding any other provision of law. History: (Act 20…

It is the intention of the Legislature by the passage of this chapter to empower each county in the state to authorize the incorporation of one or more public corporations as political subdivisions of the state for the purpose of providing products markets, exhibition halls, coli…

The Legislature finds and declares all of the following: (1) The federal Small Business Innovation Research and Small Business Technology Transfer Research programs encourage innovative small businesses to engage in research that has the potential for technological innovation and…

For the purposes of this article, the following terms shall have the following meanings: (1) CORPORATION. The Alabama Innovation Corporation created by Article 20, commencing with Section 41-10-800. (2) FEDERAL AGENCY. An executive branch agency of the United States government wh…

Transfer Research Matching Grants. The corporation may make Small Business Innovation Research and Small Business Technology Transfer Research matching grants to entities as provided in this section. (1) The corporation may establish priorities, guidelines, standards, and process…

The corporation may adopt rules as necessary to implement and administer this article. History: (Act 2021-449, §1.)

Resolution Authorizing Formation of Corporation. In the event that any number of natural persons, not less than three, shall file with the governing body an application in writing for authority to incorporate a public corporation under the provisions of this article, and it shall…

Resolution by Governing Body Approving Form and Contents of Certificate of Incorporation. (a) The certificate of incorporation of the corporation shall state: (1) The names of the persons forming the corporation, together with the residence of each thereof and a statement that ea…

This article shall be known and may be cited as the Innovating Alabama Act. History: (Act 2023-33, §2.)

For purposes of this article, the following terms have the following meanings: (1) ACCELERATOR. A company that, for a fixed term, educates and mentors early- stage technology companies recruited to a location in Alabama with the goal of accelerating the company’s development and …

(a) An economic development organization may apply to Innovate Alabama for Innovating Alabama tax credits to undertake any of the following projects: (1) The creation, operation, or support of an accelerator for technology companies, provided that the application is accompanied b…

(a) Innovate Alabama shall consider the application provided in subsection (a) of Section 41-1-842, and may approve the application if the applicant is deemed eligible. As to applications for projects located in communities which have the potential to provide additional funding s…

(a) A taxpayer is allowed an Innovating Alabama tax credit to be applied against all of the following: (1) To offset the income taxes levied in Chapter 18 of Title 40 or as an estimated tax payment of income taxes. (2) To offset the state portion of the financial institution exci…

(a) Upon receipt of funding provided by the tax credit process in Section 41-10-844, the economic development organization shall proceed with the project that was specified in the application required by Section 41-10-842. (b) As to a project described in subdivision (a)(1) of Se…

(a) All filings and applications made with any department of the state government shall be made using forms adopted by that department. The filing shall be treated as a tax return subject to penalties imposed by the Department of Revenue. (b) Nothing in this article shall be cons…

The Innovating Alabama tax credits provided in this article shall not be available for qualifying applicants as described in this article, for which applications are not approved on or prior to July 31, 2028. This shall only affect the availability of credits for applications not…

Incorporation, Resolution of Governing Body, Etc., with Probate Judge and Recordation Thereof by Probate Judge. (a) The certificate of incorporation shall be signed and acknowledged by the incorporators before an officer authorized by the laws of the state to take acknowledgments…

The certificate of incorporation may at any time and from time to time be amended so as to make any change therein and add any provision thereto which might have been included in the certificate of incorporation in the first instance. Any such amendment shall be effected in the f…

For the purposes of this article, the following terms have the following meanings: (1) ABUTTING PROPERTY. Any property that has any common boundary with a greenway trail or any other property that is within 25 feet of a greenway trail. (2) ACQUISITION FUND. The Sweet Trails Alaba…

Developer; Master Plan. (a) Subject to an appropriation made by the Legislature for the purposes of implementing the project, the council, as empowered by the corporation, may contract with an organization who may act as the developer for purposes of this article. (b) Subject to …

Subject to Section 41-10-865, upon approval of a master plan pursuant to Section 41-10-861 by the council as empowered by the corporation, shall implement a strictly voluntary system by which eligible donors may apply for grants for qualified donations of donated property. Histor…

(a) The council may provide grants to public or private entities engaged in the construction or operation of greenway trails for any legitimate purpose related to greenway trails compatible with the master plan using monies from the project fund. (b) Any entity that receives gran…

(a) The protections from liability under Article 2 of Chapter 15 of Title 35, shall extend to both of the following: (1) Any donated property for so long as that property is used as a greenway trail in a manner that complies with the master plan. (2) The owner, lessee, or person …

(a) Any eligible donor who makes a qualified donation of donated property for use as a greenway trail may apply for a grant pursuant to this section. Any eligible donor who elects not to apply for a grant pursuant to this section may enter into any other arrangement available to …

Fund. (a) There is created within the State Treasury the Sweet Trails Alabama Project Fund and the Sweet Trails Alabama Acquisition Fund to receive gifts, grants, and appropriations. Amounts deposited in the funds shall be budgeted and allotted in accordance with Sections 41-4-80…

The state, or any subdivision of the state, shall not use the powers of eminent domain provided in Title 18, to execute this article. History: (Act 2023-545, §8.)

Reelection, Etc., of Members; Vacancies; Quorum; Compensation and Expenses of Members; Reduction to Writing, Recordation and Admissibility in Evidence of Proceedings of Board. The corporation shall have a board of directors composed of the number of directors provided for in the …

Members Generally. The governing body shall elect the number of directors provided in the certificate of incorporation of the corporation for staggered terms of office. At the time of the election of the first board, the governing body shall divide the directors into three groups…

The Legislature finds and declares all of the following: (1) The State of Alabama has a great need to ensure the long-term viability of the state’s economic development successes. (2) Other states have had significant success in economic development by involving the private secto…

For the purposes of this article, the following terms have the following meanings: (1) BOARD. The governing board of the corporation. (2) CORPORATION. The Alabama Growth Alliance created by this article as a public corporation having a legal existence separate and apart from the …

(a) The Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate shall present to the Secretary of State an application, signed by each of them, for the formation of the Alabama Growth Alliance, as a public corporation, having a legal exi…

(a) The corporation shall be under the management and control of a board of directors, and all powers necessary or appropriate for the management and control of the corporation shall be vested solely in the board. The board shall be comprised of both ex officio members and at-lar…

(a) The board shall have all of the powers necessary to carry out and effectuate the purposes of this article including the following powers: (1) Provide input and support on the development, monitoring, and updating of the long-range economic development vision and strategies of…

The board may enter into contracts, leases, agreements, investments, and may otherwise expend monies without compliance with Article 5, commencing with Section 41-4-110 of Chapter 4 of Title 41, and Chapter 2 of Title 39. Solely as a result of entering into contracts, leases, agr…

At any time, the Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate may cause their application for formation to be amended by filing an amendment with the Secretary of State, which may cause its application for formation to be amen…

At any time, the board, by at least three-quarters vote, may dissolve the corporation by having at least three-quarters of its members file with the Secretary of State an application for dissolution, which shall be sworn to by each signatory thereto by a notary public. Upon the f…