AL SB111

Creates the Prepare Alabama Investment Program to fund trade schools and career technical education through tax-incentivized private donations

Establishes a 7-member oversight board within the Alabama Department of Workforce, including the Governor, legislative leaders, and Economic Development Partnership of Alabama representatives

Provides 100% tax credits against state income, excise, premium, and utility taxes for donations to eligible trade programs—up to $15,000 for individuals, $30,000 for joint filers, $450,000 for pass-through entities, and $500,000 for corporations

Caps total statewide tax credits at $25 million annually, with credits available for tax years 2027-2031 and unused credits carrying forward up to three years

Requires eligible entities to submit five-year financial plans, provide non-discriminatory workforce instruction, and report donations within 30 days; fees for donation solicitation capped at 3%