Struck = removed from the bill ·
added = the amendment's new text.
SB165PZFARE-1 ENROLLED: WV4V9E-3 By Senators Orr, Weaver, Williams, Chesteen, Price, Reed, Allen, Butler, Jones, Gudger, Waggoner, Kelley, Chambliss, Hovey, Sessions, Bell, Shelnutt, Scofield, Melson, Singleton, Livingston, Hatcher, Stewart, Figures, Smitherman, Coleman-Madison RFD:
Fiscal4/13/2023 Responsibility: and Economic Development First Read:
04-Apr-23PMG PageAMENDMENT 0TO SB165 EnrolledOFFERED Enrolled,BY AnARTHUR Act,ORR 3Replace 5lines Relating202 tothrough economic206 development;on page 8 with the following:
topreference add Article 2D, commencing with Section 41-10-47.01, to Chapternear-term 10needs. of Title 41, Code of Alabama 1975;
toA authorizeboard themember Stateshall Industrialnot Developmentbe AuthorityPage to1 make site assessment grants and site development grants to certain companies;
to provide for the criteria that must be met for grant approval;
to provide for changes to criteria based on economic conditions;
to limit the funding that may be received by any site under the grant program;
to create the Alabama Site Development Fund and provide for its management;
to amend Section 41-10-27.2, Code of Alabama 1975, providing for an annual appropriation to the State Industrial Development Authority, to authorize the appropriation to be expended on the grant program created herein;
and to exempt the State Industrial Development Authority and certain economic development organizations from certain state laws.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1.
A new Article 2D, commencing with Section 41-10-47.01, is added to Chapter 10 of Title 41, Code of Alabama 1975, to read as follows:
Article 2D §41-10-47.01 This article shall be known and may be cited as the Site Evaluation Economic Development Strategy.
Page 1 SB165 Enrolled §41-10-47.02 As used in this article, the following terms have the following meanings:
(1) AUTHORITY.
The public corporation organized pursuant to Article 2.
(2) BOARD.
The board of directors of the authority.
(3) COMPANY.
Any person that has employees and conducts an activity listed in Section 40-18-372(1).
(4) LOCAL ECOMONIC DEVELOPMENT ORGANIZATION.
Any organization that is determined by the authority to meet both of the following criteria:
a.
The organization is an Alabama entity not operating for profit, including, but not limited to, a municipality, county, industrial development board, industrial development authority, chamber of commerce, or some other foundation or nonprofit organization charged with improving a community or region of the state.
b.
The organization has a record of supporting or otherwise participating in economic development in some part of the state.
(5) FUND.
The Alabama Site Development Fund created by this article.
(6) SITE.
Any parcel of real property intended for development by a company.
(7) STATEWIDE ECONOMIC DEVELOPMENT ORGANIZATION.
An organization that is determined by the authority to be an Alabama entity not operating for profit which is charged with improving the state or a region of the state and has a record Page 2 SB165 Enrolled of supporting or otherwise participating in economic development in the state.
(8) TARGETED COUNTY.
Any Alabama county that is described in Section 40-18-376.1.
§41-10-47.03 (a) Any local economic development organization may apply to the authority for a site assessment grant.
(b) Before making a site assessment grant, the authority shall make all of the following findings:
(1) The site is owned by a local economic development organization, or a local economic development organization has an option to purchase the site.
(2) The site is at least 50 acres.
(3) The application includes proof that the grant funds that are approved by the authority will be matched by funds on hand with, or contingently committed to, the applicant such that one of the following is true:
a.
If the site is located in a targeted county with a population of less than 12,000, for every dollar of grant funds, the applicant will contribute twenty-five cents ($0.25) of additional funds.
b.
If the site is located in a targeted county with a population of 12,000 or greater but less than 50,000, for every dollar of grant funds, the applicant will contribute fifty cents ($0.50) of additional funds.
c.
If the site is located in a county with a population of 50,000 or greater but less than 150,000, for every dollar of grant funds, the applicant will contribute seventy-five Page 3 SB165 Enrolled cents ($0.75) of additional funds.
d.
If the site is located in a county with a population of 150,000 or greater, for every dollar of grant funds, the applicant will contribute one dollar ($1) of additional funds.
(c) The authority may impose additional requirements with regard to the sites, including, but not limited to, environmental and geotechnical matters, as well as utility related and transportation related issues.
(d) Each applicant must enter into a project agreement 95 with the authority to establish the terms and conditions of the site assessment grant.
§41-10-47.04 (a) Any local economic development organization may apply to the authority for a site development grant.
(b) Before making a site development grant, the authority shall make both of the following findings:
(1) The site is comprised of at least 75 contiguous acres, provided that in addition to the 75 contiguous acres, other proximate but noncontiguous property may be a part of the site.
(2) The application includes proof that the grant funds that are approved by the authority will be matched by funds on hand with, or contingently committed to, the applicant such that one of the following is true:
a.
If the site is located in a targeted county with a population of less than 12,000, for every dollar of grant funds, the applicant will contribute twenty-five cents ($0.25) Page 4 SB165 Enrolled of additional funds.
b.
If the site is located in a targeted county with a population of 12,000 or greater but less than 50,000, for every dollar of grant funds, the applicant will contribute fifty cents ($0.50) of additional funds.
c.
If the site is located in a county with a population of 50,000 or greater but less than 150,000, for every dollar of grant funds, the applicant will contribute seventy-five cents ($0.75) of additional funds.
d.
If the site is located in a county with a population of 150,000 or greater, for every dollar of grant funds, the applicant will contribute one dollar ($1) of additional funds.
(c) The authority may impose additional requirements with regard to the sites, including, but not limited to, environmental and geotechnical matters, as well as utility related and transportation related issues.
(d) Each applicant must enter into a project agreement with the authority to establish the terms and conditions of the site development grant.
§41-10-47.05 (a) For the benefit of the state and the residents of the state, there is created an irrevocable fund named the Alabama Site Development Fund, which shall be funded from all of the following sources:
(1) Proceeds of any gifts, grants, or contributions.
(2) Revenue sources as directed by, and at the discretion of, the Legislature.
Page 5 SB165 Enrolled (3) Appropriations as directed by, and at the discretion of, the Legislature.
(4) Investment income.
(5) Federal grants relating to site-based development initiatives which the authority finds will have the effect of advancing economic development in Alabama.
(6) Any other lawful sources.
(b) The funds shall be administered in accordance with this article.
All revenues received by the fund shall be deposited in the fund upon receipt and may be invested by the board and withdrawn and expended by the authority for the purposes of this article in a manner consistent with the powers granted to the authority by this article.
(c) The fund shall be under the management and control of the board, and all powers necessary or appropriate for the management and control of the fund shall be vested solely in the board.
The authority may make whatever representations and covenants it finds reasonable or necessary for federal grant applications and agreements, and it may take whatever actions it deems reasonable or necessary to implement such grants.
§41-10-47.06 (a) The funds 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.
The board may expend the fund's earnings and principal in furtherance of its purposes.
(b)(1) To the extent practicable, the board shall keep all monies at any time held in the fund invested in eligible Page 6 SB165 Enrolled investments, in its sole judgment, as shall produce the greatest trust income over the term of the investments while preserving capital.
(2) The board may select the eligible investments in which monies held in the fund shall at any time be invested.
(3) The board may invest the fund capital in any eligible investments producing trust income in accordance with the schedule as the board, in its sole judgment, determines to be in the best interests of the state.
In determining the schedule, the board may emphasize future benefits in preference to near-term needs.
A board member shall not be responsible for the adequacy of the fund to satisfy and discharge any obligation of the corporation.
§41-10-47.07 The Legislature recognizes that economic conditions may require the consideration of a grant for a site that does not meet one or more requirements of Section 41-10-47.03(b) or 41-10-47.04(b).
The board, by majority vote, may cause a grant to be made so long as the board determines that the site is suitable for development for one or more activities listed in Section 40-18-372(1) and is in the best interest of the public.
§41-10-47.08 The authority may contract with and rely on one or more statewide economic development organizations in implementing this article.
The authority may enter into such contracts, leases, agreements, and investments and may otherwise expend monies without compliance with Article 5 of Chapter 4 of Title Page 7 SB165 Enrolled 41 or Chapter 2 of Title 39.
Solely as a result of entering into contracts, leases, agreements, investments, or otherwise, no statewide economic development organization, nor the officers, employees, agents, or directors of any of the foregoing, shall become subject to Chapter 25 or Chapter 25A of Title 36;
Article 5 of Chapter 4 of Title 41;
Chapter 2 of Title 39;
or Section 36-12-40.
§41-10-47.09 The authority shall report annually to each member of the Legislature on the number, amount, and location of site grants distributed by the authority.
Section 2.
Section 41-10-27.2, Code of Alabama 1975, is amended to read as follows:
"§41-10-27.2 Beginning in the fiscal year ending September 30, 20062024, the Legislature shall annually appropriate an amount up to $2,000,000 from the Capital Improvement Trust Fund to the State Industrial Development Authority for the purpose of paying industrial development site grants, site assessment grants, or site development grants.
The bond commission established by Amendment 666 of the Constitution of Alabama of 1901, now appearing as Section 210.04, of the Official Recompilation of the Constitution of Alabama of 19012022, as amended, shall consult with the State Industrial Development Authority and recommend to the Legislature the actual amount of the annual appropriation." Section 3.
This act shall become effective immediately following its passage and approval by the Governor, or its Page 8 SB165 Enrolled otherwise becoming law.
Page 9 SB165 Enrolled ________________________________________________ President and Presiding Officer of the Senate ________________________________________________ Speaker of the House of Representatives SB165 Senate 13-Apr-23 I hereby certify that the within Act originated in and passed the Senate, as amended.
Patrick Harris, Secretary.
House of Representatives Passed:
20-Apr-23 By:
Senator Orr Page 10