Section 41-10-810 – Liberal Construction.
Section 41-10-810 Liberal construction. This article shall be liberally construed to effectuate its purpose. (Act 2021-455, §1.)
Section 41-10-811 – Report to Legislature.
Section 41-10-811 Report to Legislature. 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. (Act 2021-455, §2.)
Section 41-10-820 – Leglislative Findings.
Section 41-10-820 Leglislative findings. 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 commercialization. (2) Stimulating research and commercialization will grow the Alabama economy by […]
Section 41-10-821 – Definitions.
Section 41-10-821 Definitions. 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 which participates in the Small Business Innovation Research program, the Small Business […]
Section 41-10-822 – Small Business Innovation Research and Small Business Technology Transfer Research Matching Grants.
Section 41-10-822 Small Business Innovation Research and Small Business Technology 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 processes by which the matching grants contemplated in this […]
Section 41-10-823 – Rulemaking Authority.
Section 41-10-823 Rulemaking authority. The corporation may adopt rules as necessary to implement and administer this article. (Act 2021-449, §1.)
Section 41-10-760 – Notice – Contested Actions.
Section 41-10-760 Notice – Contested actions. (a) Upon the adoption by the directors of any resolution providing for the issuance of bonds, the authority may cause to be published once a week for two consecutive weeks, in newspapers published or having a general circulation in the Cities of Birmingham, Montgomery, Huntsville, and Mobile, a notice […]
Section 41-10-806 – Alabama Innovation Fund – Created.
Section 41-10-806 Alabama Innovation Fund – Created. (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, and at […]
Section 41-10-761 – Tax Exemption.
Section 41-10-761 Tax exemption. The income and property of the authority, all bonds of the authority and the interest paid on any such bonds, all conveyances by or to the authority, and all instruments by and to the authority shall be exempt from all taxation in the state. The authority shall also be exempt from […]
Section 41-10-807 – Alabama Innovation Fund – Management.
Section 41-10-807 Alabama Innovation Fund – Management. (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 […]