SB76 Alabama 2011 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2011
Title
Industrial Development Authority, requirement that fair market value must be received for transfers of land owned by authority, removed, Sec. 41-10-27 am'd.
Description
Under existing law, the State Industrial Development Authority may provide grant funds to a grantee, as defined in Section 41-10-20, Code of Alabama 1975, whereby no person, as defined in Section 41-10-20, Code of Alabama 1975, has received or will receive an option to purchase the industrial site or any part thereof from the grantee for less than fair market value of such site
This bill would remove the requirement that a grantee must receive at least fair market value for any site with respect to which a grant is made
To amend Section 41-10-27, Code of Alabama 1975, to remove the requirement that a grantee receive fair market value for selling land it owns for which a grant is made.
Subjects
Industrial Development Authority
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 28, 2011 | Delivered to Governor at 10:15 a.m. on April 28, 2011 | |
| April 28, 2011 | Assigned Act No. 2011-215. | |
| April 28, 2011 | Enrolled | |
| April 28, 2011 | Signature Requested | |
| April 27, 2011 | Passed Second House | |
| April 27, 2011 | Motion to Read a Third Time and Pass adopted Roll Call 531 | |
| April 27, 2011 | Third Reading Passed | |
| April 6, 2011 | Read for the second time and placed on the calendar | |
| March 31, 2011 | Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism | |
| March 31, 2011 | Motion to Read a Third Time and Pass adopted Roll Call 151 | |
| March 31, 2011 | Third Reading Passed | |
| March 8, 2011 | Read for the second time and placed on the calendar | |
| March 1, 2011 | Read for the first time and referred to the Senate committee on Job Creation and Economic Development |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB76 Alabama 2011 Session - Enrolled |
| Bill Text | SB76 Alabama 2011 Session - Introduced |