AL HB554

Establishes a grant program capped at $2 million annually for chemical and energy production facilities impacted by trade disruptions, covering financial losses, supply chain modifications, personnel retention, feedstock research, and infrastructure improvements including pipelines, storage, and port facilities

Creates a 30% refundable income tax credit for capital investments in chemical and energy production, limited to $2 million total annually, available for tax years 2027-2031 with a 5-year carry-forward and 3-year per-taxpayer limit

Establishes a low-interest loan program for eligible facilities covering up to 30% of qualifying investment expenditures for site development and equipment acquisition

Creates a 5-member Chemical and Energy Trade Risk Assessment Board appointed by the ADECA director to evaluate supply chain vulnerabilities and issue biennial reports to the Governor and Legislature, with first meeting by September 1, 2026

Effective date: July 1, 2026