AL SB373

Extends the deadline for executing project agreements to receive incentives under the Alabama Jobs Act from December 31, 2019 to December 31, 2023.

Exempts megaprojects (defined as projects creating at least 500 employee positions or making a capital investment of $100 million or greater at a single site) from the $850 million aggregate cap on outstanding jobs act incentives.

Maintains the $850 million aggregate cap on outstanding incentives for non-megaproject qualifying projects unless the Legislature votes to allow additional incentives.

Preserves all incentives already awarded to projects with executed agreements on or before the extended deadline, regardless of future legislative action.

Becomes effective immediately upon passage and approval by the Governor.