AL HB393

Amends five sections of Alabama Code (11-66A-2, 40-9B-3, 40-9G-1, 40-18-372, and 41-23-252) related to research and development corridors, tax abatements, and economic development incentives

Replaces references to the outdated "Accelerate Alabama Strategic Economic Development Plan" (adopted January 2012) with the current "CatALyst" comprehensive economic development plan developed by the Department of Commerce

Updates all NAICS (North American Industry Classification System) code references from the 2012 version to the 2022 version, including specific code changes such as 5122 to 5122, 51913 to 51929, and removal of code 511

Makes technical corrections including updating constitutional references from "Constitution of Alabama of 1901" to "Constitution of Alabama of 2022" and standardizing terminology throughout

Effective date: June 1, 2026; passed House of Representatives on February 26, 2026 with 93 yeas, 0 nays, and 11 abstentions