The Department shall:
- (a) Accept appropriations from the General Fund to be utilized in establishing or recapitalizing Regional RLFs.
- (b) Develop policies and procedures to ensure accountability of funds distributed to regions to ensure that said funds are loaned according to state statutes and federal program guidelines.
- (c) Develop rules and regulations and oversight procedures for Regional RLF policies and set procedures for making loans, for the repayment of loans and for administrative costs.
- (d) Develop an allocation process for distribution of $500,000 from the 1990-91 General Fund and any future appropriations from this or other sources.
Author: David S. Barley, Jr.; Dr. Don C. Hines.
Statutory Authority: Act 90-650, Legislature of the State of Alabama.
History: Filed November 19, 1990; effective December 24, 1990.