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AL HB292
Bill
Status
2/18/2025
Primary Sponsor
Neil Rafferty
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AI Summary
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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.
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Requires the department to publish the value of any repayment of tax incentives awarded to companies that fail to comply with project agreement terms.
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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.
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Requires publication of aggregated performance data on all projects incentivized under the article.
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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