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AL HB292

Bill

Status

Introduced

2/18/2025

Primary Sponsor

Neil Rafferty

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Amends Section 40-18-379.1 of the Code of Alabama 1975 to require the Alabama Department of Commerce to publish information about economic development incentives awarded under the Alabama Jobs Act.

  • Requires the department to publish the value of any repayment of tax incentives awarded to companies that fail to comply with project agreement terms.

  • Maintains existing publication requirements including company name, county, estimated capital investment, estimated new jobs, average hourly wage, estimated tax credits, and projected 10-year and 20-year return on incentives.

  • Requires publication of aggregated performance data on all projects incentivized under the article.

  • Effective date: October 1, 2025.

Legislative Description

Economic development tax incentives; value of the repayment of awarded tax incentives required to be published

Economic Development

Last Action

Pending House Economic Development and Tourism

2/18/2025

Committee Referrals

Economic Development and Tourism2/18/2025

Full Bill Text

No bill text available