Alabama § 41-10-843 - Approval of Application; Agreements.
Full text of Alabama Code of Alabama § 41-10-843 — Approval of Application; Agreements., with citation guidance and answers to common questions.
§ 41-10-843. Approval of Application; Agreements.
(a) Innovate Alabama shall consider the application provided in subsection (a) of Section 41-1-842, and may approve the application if the applicant is deemed eligible. As to applications for projects located in communities which have the potential to provide additional funding separate from the Innovating Alabama tax credits, Innovate Alabama shall take into consideration whether the separate funding is to be provided to the project that is the subject of the application.
(b) The approval of an application by Innovate Alabama shall specify the amount of money which the economic development organization is allowed to receive so that the economic development organization can complete the project specified in the application.
(c) Following approval by Innovate Alabama, Innovate Alabama shall enter into an agreement with the economic development organization which shall do all of the following:
(1) Require the economic development organization to use funding received as a result of this article only for the purposes approved by Innovate Alabama as expressed in the agreement.
(2) Require the economic development organization to make periodic reports, not more often than annually, to Innovate Alabama, on the disposition of the funds. The report shall also include an economic impact report.
(3) Require the economic development organization to provide a review of its financial accounts as directed by Innovate Alabama.
(d) For any approved applications, Innovate Alabama shall notify the Department of Revenue of the information specified in subsection (b).
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 41-10-843
What does Code of Alabama § 41-10-843 cover?
Section 41-10-843 ("Approval of Application; Agreements.") 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 § 41-10-843?
A common citation format is "Code of Alabama § 41-10-843" (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 § 41-10-843 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.