AL HB367

Establishes the Interstate Compact to Phase Out Corporate Giveaways as an anti-poaching agreement among two or more states that prohibits state company-specific tax incentives and grants to entice businesses to relocate existing facilities from other member states.

Member states include any U.S. state or the District of Columbia that enacts the compact agreement; each state may withdraw with six months' written notice to other member states.

Excludes from the compact: workforce development grants that train employees, local government company-specific incentives or grants, and state incentives or grants for facilities located within a state's own borders.

Creates a national board composed of one gubernatorial appointee from each member state to annually publish suggested revisions to the compact in December, with authority to collect testimony from interested parties and recommend phased expansions of corporate giveaway restrictions.

Enforcement is conducted by each member state's chief law enforcement officer; taxpaying residents of any member state have standing in courts of any member state to require enforcement, and the compact becomes effective upon adoption by two or more states.