Ala. Admin. Code r. 795-7-7-.01

Current through Register Vol. 42, No. 12, September 30, 2024

Section 795-7-7-.01 - Method Of Determination

(1) The SLA, with participation of the Elected Committee of Blind Vendors, shall establish a method for assessing set-aside funds from net proceeds of a facility. Each vendor shall set aside a specified percentage of the net proceeds. Such funds shall be deposited monthly into the set-aside fund. The SLA and the Elected Committee of Blind Vendors will review periodically the status of set-aside funds and the specified percentage assessed against net proceeds of BEP facilities.

(2) The set-aside assessment defined as a percentage of net proceeds shall be determined annually by January 1 of each year to ensure the retention of reasonable reserves to adequately support and develop BEP.

Authors: Alabama Board of Rehabilitation Services, Alabama Elected Committee of Blind Vendors

Ala. Admin. Code r. 795-7-7-.01

New Rule: Filed January 19, 2000; effective February 23, 2000.

Statutory Authority:Code of Ala. 1975, §§ 21-1-40, 21-9-9; 20 U.S.C. 107 et. seq.