Section 40-28-2 Distribution of Tennessee Valley Authority payments.
Section 40-28-2
Distribution of Tennessee Valley Authority payments.
(a) Beginning in the fiscal year ending September 30, 1980, the State of Alabama will annually transfer to the counties in Alabama served by T.V.A. a portion of the in-lieu-of-taxes payments made by T.V.A. to the State of Alabama. Such transfer of funds shall be according to the following schedule:
| For the Fiscal Year: | Percentage of In-Lieu-of-Taxes |
|---|---|
| Payments Transferred to | |
| T.V.A.-Served Counties by the State | |
| Shall Be: | |
| 1979-80 | 20% |
| 1980-81 | 30% |
| 1981-82 | 40% |
| 1982-83 | 50% |
| 1983-84 | 60% |
| 1984-85 | 70% |
| 1985-86 through 2004-05 | 75% |
| 2005-2006 and each fiscal year thereafter | 78% |
(b) The state shall distribute the in-lieu-of-taxes payments each fiscal year to each of the counties served by T.V.A., and the three percent increases after September 30.2005, generated by the amendments to this section at the 2006 Regular Session of the Legislature shall be allocated by local legislation.
(c)(1) In addition to the distribution provided for in subsection (a) of this section, the state shall distribute each fiscal year five percent of the in-lieu-of-taxes payments to the dry counties and municipalities therein which are not served by T.V.A. Said five percent shall be distributed on the same proportionate basis that each such county received in fiscal year 1978-79 from A.B.C. payments as compared to the total A.B.C. payments received by all dry counties not served by T.V.A. during the same fiscal year. The distribution of such in-lieu-of-taxes payments between each dry non-T.V.A.-served county and the municipalities located therein shall be made pro rata on the basis of A.B.C. payments received by each such jurisdiction in the fiscal year 1979 to the total A.B.C. payments to the county and all municipalities in such county in the fiscal year 1979. Such distribution to the municipalities will be administered by the county governing body.
(2) Effective for transfers after July 1, 2006, adding this subdivision, the distribution to the State General Fund shall remain at the level received on July 1, 2006, until the level received attains the amount of seventeen million eight hundred forty thousand two hundred thirty-three dollars ($17,840,233) and thereafter the state shall receive 17 percent of the total amount of the in-lieu-of-taxes payments.
(d) Any T.V.A.-served dry county which is eligible to receive funds under Section 40-28-3 shall receive from that portion of the in-lieu-of-taxes payments not less than that amount which the county received in A.B.C. payments in the fiscal year 1978-79.
(Acts 1978, 2nd Ex. Sess., No. 92, p. 1786, §1; Acts 1979, No. 79-306, p. 458; Acts 1979, No. 79-786, p. 1425, §2; Act 2006-655, p. 1792, §1.)