Alabama § 41-10-48.06 - Selection of Eligible Projects; Limitations on Loans.
Full text of Alabama Code of Alabama § 41-10-48.06 — Selection of Eligible Projects; Limitations on Loans., with citation guidance and answers to common questions.
§ 41-10-48.06. Selection of Eligible Projects; Limitations on Loans.
(a) In considering applications for eligible projects, the authority may request additional input from external experts as to the urgency of the energy infrastructure project, the ability of the applicant to execute the project within the stated time frame, and other assistance as determined by the authority.
(b) The total aggregate amount of loans or other financial assistance provided by the bank in any year shall be limited to an amount that would not jeopardize the viability of the fund, as determined by the authority with the advice of external experts.
(c) In selecting eligible projects, the authority shall consider, with assistance from external experts, project feasibility and the degree of financial risk to be assumed by the authority.
(d) The authority shall ensure that no electric provider receives more than 40 percent of the loan or financial assistance funds provided by the bank in each calendar year unless a joint application of electric provider is made; provided, however, in no event (even with a joint application) shall more than 50 percent of the loan or financial assistance funds provided by the bank in each calendar year be received by any single electric provider.
(e) The authority shall reserve at least 40 percent of the aggregate amount available in each calendar year for loans and other financial assistance from the energy bank for use for energy infrastructure projects in rural areas. In the event that applications are not received for energy infrastructure projects in the rural areas by the close of the second quarter of the applicable calendar year, the reservation shall no longer apply and the funds may be used for other energy infrastructure projects; provided, however, that, in failing to apply for an energy infrastructure project by the end of the second calendar quarter of a calendar year, an electric provider is not prohibited from subsequently applying and receiving an allocation of funds for energy infrastructure projects in rural areas later in that calendar year.
(f) Any nonpublic or proprietary information included in an application by an economic development prospect or electric provider shall be subject to the Department of Commerce’s protections for such information, provided in Section 41-29-3.Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-48.06
What does Code of Alabama § 41-10-48.06 cover?
Section 41-10-48.06 ("Selection of Eligible Projects; Limitations on Loans.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 41-10-48.06?
A common citation format is "Code of Alabama § 41-10-48.06" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 41-10-48.06 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.