AL SB173

Repeals the Reemployment Act of 2010 and establishes a new "Full Employment Act of 2011" to provide an income tax credit for job creation in Alabama.

Provides a $1,000 per-job income tax credit for small businesses (50 or fewer employees) that create new jobs paying more than $10 per hour, available in the tax year when an employee completes 12 months of consecutive employment.

Requires employers to maintain a net increase in full-time Alabama employees equal to the number of newly hired employees for which a credit is sought, plus one additional employee for all previously credited employees.

Limits the credit against Alabama income tax liability; credit is non-refundable and non-transferable but available on a pro rata basis to owners of S-corp or partnership-taxed entities.

Effective for tax years beginning on or after January 1, 2011.