AL SB312

Amends the Alabama Jobs Act (Act 2015-27) to provide an additional 0.5 percent jobs credit for companies employing eligible employees at qualifying projects located within former active duty military installations closed by the Base Realignment and Closure (BRAC) process.

Maintains existing 0.5 percent jobs credit for companies that employ at least 12 percent of eligible employees as veterans with honorable or general discharge, verified by the Department of Labor.

Prevents companies claiming the veteran employment credit from also claiming credits under Article 13 of the tax code for any portion of the project.

Establishes that as of October 1, 2016, Enterprise Zones are defined as any Alabama county meeting criteria in Section 40-18-376.1(a), while grandfathering in previously approved businesses for their original agreement periods.

Becomes effective immediately upon passage and approval by the Governor.