Alabama Administrative Code › Title 460 - ALABAMA HISTORICAL COMMISSION › Chapter 460-X-25 - ALABAMA HISTORIC REHABILITATION TAX CREDIT › Section 460-X-25-.12 - Meetings And Review Cycle

Current through Register Vol. 42, No. 9, June 28, 2024
The Executive Director of the Alabama Historical Commission
				shall by October 30, 2017, contact the President Pro Tempore of the Senate and
				the Speaker of the House of Representatives for the names of their appointees
				to the Historic Tax Credit Evaluating Committee.
(1) The Commission shall call the first
			 meeting of the Tax Credit Evaluating Committee before December 31, 2017, and it
			 shall be an organizational meeting to select a chair and vice-chair to serve
			 for 2018, to determine the location of Committee meetings, and to orient
			 Committee members to the Program. In the following years, the selection of
			 officers shall be in the first quarter of the calendar year in which they are
			 to serve. The officers of the Committee shall be a chairman and a
			 vice-chairman. The Commission shall serve as secretary of the Committee. The
			 officers shall be selected by a majority vote of members present. The chair and
			 vice-chair positions shall serve for one-year terms. The House and Senate
			 members are appointed or reappointed annually.
(2) All notices and meetings of the Committee
			 shall be conducted in accordance with the Alabama Open Meetings Act, Chapter
			 25A, Title 36,
Code of Ala. 1975
. The Commission will
			 post all required public notices about the date, time, and location of the
			 Committee meetings. A majority of the members of the Committee present shall
			 constitute a quorum. The Committee may meet at any place within the state of
			 Alabama.
(3) The Committee shall
			 meet at least quarterly unless no Qualifying Projects are recommended by the
			 Commission or the $200,000,000 has been reached. The Committee may also meet at
			 the call of the chair or any majority of the membership. The Committee shall
			 perform all duties prescribed by this Act and by Robert's Rules of
			 Order.
(4) Applications will be
			 accepted beginning November 1, 2017. The Review Cycle is as follows:
(a)
Quarter 1
Application Period
: Applications
				received by December 31 will be reviewed by the Commission and, if determined
				to be a Qualifying Project, will be considered in the first quarter Committee
				meeting. The Commission reserves tax credits as available based on Committee
				recommendations no later than 30 days after the first quarter Committee
				meeting.
(b)
Quarter 2
Application Period
: Applications
				received by March 31 will be reviewed by the Commission and, if determined to
				be a Qualifying Project, will be considered in the second quarter Committee
				meeting. The Commission reserves tax credits as available based on Committee
				recommendations no later than 30 days after the second quarter Committee
				meeting.
(c)
Quarter 3
Application Period
: Applications
				received by June 30 will be reviewed by the Commission and, if determined to be
				a Qualifying Project, will be considered in the third quarter Committee
				meeting. The Commission reserves tax credits as available based on Committee
				recommendations no later than 30 days after the third quarter Committee
				meeting.
(d)
Quarter 4
Application Period
: Applications
				received by September 30 will be reviewed by the Commission and, if determined
				to be a Qualifying Project, will be considered in the fourth quarter Committee
				meeting. The Commission reserves tax credits as available based on Committee
				recommendations no later than 30 days after the fourth quarter Committee
				meeting.