Public funds from the state or any local government shall not be used to fund or repay a loan between a capital provider and a qualifying property owner. A state or local government shall not pledge, offer, or encumber its full faith and credit for a lien amount through a property insurance reduction and capital expenditure program.
Ala. Code § 11-81-251
Known as the Property Insurance Reduction and Capital Expenditure Act
The act spans §§ 11-81-240 to 11-81-252 (13 sections).
(Act 2026-251, §2.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.