§ 12-6-3460. (W)(1) Notwithstanding subsection (C)(1), in the case of a qualified nuclear plant facility, the sponsor has five years.
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§ 12-6-3460. (W)(1) Notwithstanding subsection (C)(1), in the case of a qualified nuclear plant facility, the sponsor has five years from the end of the calendar year in which the Nuclear Regulatory Commission grants the sponsor a combined license to construct and operate a nuclear power plant to enter into an initial lease agreement with the county but in no event more than fifteen years from the latter of the adoption of an inducement resolution or execution of an inducement agreement by the county.
(2)Notwithstanding subsection (C)(2)(d), in the case of a qualified nuclear plant facility, the sponsor has fifteen years from the end of the calendar year in which the initial lease agreement is executed to meet the minimum investment and fifteen years from the end of the calendar year in which the first piece of property is placed into service to complete the project.
(X)(1) All agreements entered into pursuant to this section must include as the first portion of the document a recapitulation of the remaining contents of the document which includes, but is not limited to, the following:
(a)the legal name of each party to the agreement;
(b)the county and street address of the project and property to be subject to the agreement;
(c)the minimum investment agreed upon;
(d)the length and term of the agreement;
(e)the assessment ratio applicable for each year of the agreement;
(f)the millage rate applicable for each year of the agreement;
(g)a schedule showing the amount of the fee and its calculation for each year of the agreement;
(h)a schedule showing the amount to be distributed annually to each of the affected taxing entities;
(i)a statement answering the following questions:
(i)Is the project to be located in a multi-county park formed pursuant to Chapter 29, Title 4?;
(ii)Is disposal of property subject to the fee allowed?;
(iii)Will special source revenue bonds be issued or credits for infrastructure investment be allowed in connection with this project?;
(iv)Will payment amounts be modified using a net present value calculation?; and
(v)Do replacement property provisions apply?;
(j)any other feature or aspect of the agreement which may affect the calculation of subitems
(g)and
(h)of this item;
(k)a description of the effect upon the schedules required by subitems
(g)and
(h)of this item of any feature covered by subitems
(i)and
(j)not reflected in the schedules for subitems
(g)and (h);
(l)which party or parties to the agreement are responsible for updating any information contained in the summary document.
(2)The auditor shall prepare a bill for each installment of the fee according to the schedule set forth in subitem (1)(g) or as modified pursuant to subitem (1)(j), (k), or
(l)and that payment must be distributed to the affected taxing entities according to the schedule in subitem (1)(g) or as modified pursuant to subitem (1)(j), (k), or (l).
(3)The county and the sponsor and sponsor affiliates may agree to waive any or all of the items described in this subsection.