AL HB555

Proposes a constitutional amendment to allow the Alabama Department of Economic and Community Affairs (ADECA) to provide low-interest loans to qualifying chemical and energy production facilities operating in Alabama

Creates an exception to the existing state constitutional prohibition against lending state money or credit to individuals, associations, or corporations

Establishes the loans as part of the State Energy Supply and Chemical Trade Stabilization Act

Requires approval by a majority of qualified voters in a statewide election to take effect, in accordance with Sections 284 and 285 of the Constitution of Alabama of 2022

First read on March 3, 2026 and referred to the State Government Committee; sponsored by 28 Representatives led by Representative Hall