Alabama real gross domestic product

Natural-gas share is the portion of Alabama in-state electricity net generation supplied by natural gas. Gas-fired plants and alternative generating resources concern this mix; in-state generation differs from electricity consumed in the state. Procurement targets and authorizations are distinct from operating plants or measured output. This connection does not establish causation. Actions after the measurement period cannot explain the earlier observed value.

Retained Alabama evidence context: Natural gas share of in-state electricity generation. This record’s connection to the topic does not establish an effect on the measured result.

(7) ENERGY INFRASTRUCTURE PROJECTS. Generation infrastructure, transmission infrastructure, and projects addressing long-lead items. […] §41-10-48.04 (a) There is created within the authority a division to be known as the Alabama Energy Infrastructure Bank. (b) In recognition of increasing concerns regarding energy capacity and the resilience of Alabama's energy infrastructure for current and future needs, the corporate purpose of the energy bank is to support the economic growth of the state by identifying and supporting energy infrastructure projects for eligible projects in Alabama. (c) The energy bank will accomplish these goals through the utilization of bond financing and other financial assistance for energy infrastructure projects. (d) The energy bank will utilize existing and future revenue sources in order to create the necessary funding streams to secure bond financing and other financial assistance that will allow the state to enhance and expand its energy infrastructure. (e) Through the energy bank, the authority may act as a state energy financing institution as that term is defined 42 U.S.C. § 16511(7)(A), or any successor statute, for purposes of obtaining federal support for Alabama energy infrastructure projects. (f) The Alabama Energy Infrastructure Fund is created in the State Treasury. All proceeds from the revenues designated to the energy fund, pursuant to this act and any other provision of law, shall be deposited into the energy fund to be expended only as provided in this act. (g) In undertaking its responsibilities under this Act, the authority may request that the Alabama Growth Alliance review and provide feedback on authority programs and activities which may include, but is not limited to, their alignment with the state's economic growth priorities. §41-10-48.05 In addition to the powers granted to it in Section 41-10-26, Sections 41-10-37 through 41-10-43, Sections 41-10-44.1 through 41-10-44.15, and Sections 41-10-47.01 through 41-10-47.09, with respect to the energy bank and the energy fund, the authority shall have the following additional powers to: (1) Make loans or provide other financial assistance to electric providers to finance or reduce the costs of eligible projects, to collect fees and charges related to such loans or other financial assistance, and to acquire, hold, pledge, and sell loan obligations at prices and in a manner as the authority determines advisable. […] §41-10-48.06 (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, such reservation shall no longer apply and such 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.

SB 304 establishes an Energy Infrastructure Bank with loan and bond-financing powers and a Strategic Energy Infrastructure Development Fund for qualifying industrial-development energy projects and equipment, with specified rural-area funding requirements. The act creates financing authority and reporting requirements. Its loans and bonds are subject to statutory conditions; this event does not show that financing was issued, infrastructure completed, or economic output increased. This topic relationship does not establish an effect on a state statistic.

Retained Alabama evidence context: Natural gas share of in-state electricity generation · energy · reviewed policy-topic context. This record’s connection to the topic does not establish an effect on the measured result.

There is created within the authority, a division to be known as the Alabama Energy Infrastructure Bank.