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AL SB238
Bill
Status
2/8/2012
Primary Sponsor
Paul Sanford
Click for details
AI Summary
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Director of the Alabama Development Office may waive any requirement for certified capital company certification if the applicant received a Small Business Innovative Research grant within 12 months of filing the application.
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Waivable requirements include the $500,000 minimum equity capitalization requirement and other qualification standards established in Section 40-14B-3.
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Amends the Code of Alabama 1975, Section 40-14B-3, to add subsection (f) providing this waiver authority for SBIR grant recipients.
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Effective date is the first day of the third month following passage and approval by the Governor.
Legislative Description
Economic Development, certain developed companies, Alabama Development Office may exempt certain applicant receiving Small Business Innovative Research grant from certain qualifications, Sec. 40-14B-3 am'd
Economic Development
Last Action
Indefinitely Postponed
5/9/2012