Alabama Innovation Corporation; incorporation; legislative findings, implementation of Small Business Innovation Research or Small Business Technology grants, board of directors, powers, contracts, investments, Sec. 41-10-800 to 41-10-810, inclusive, added
This bill would create the Alabama Innovation Corporation as an authority organized as a public corporation having a legal existence separate and apart from the state and any county, municipality, or political subdivision, and would provide for its powers and duties
To add Article 20, commencing with Section 41-10-800, to Chapter 10, Title 41 of the Code of Alabama 1975; to create the Alabama Innovation Corporation; to provide legislative findings; to provide for its incorporation; to provide for the creation of a board; to provide for the powers and duties of the corporation; to allow the corporation to enter into contracts; to create an accompanying fund and provide for the management of the fund; to provide for
amendments to the governing documents of the corporation; and to provide for the dissolution of the corporation.
March 16, 2021
Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development