AL SB214

Clarifies that the annual $2,500,000 supplemental tax rebate for mega tourism projects (minimum $75 million investment) is in addition to the standard $5 million rebate cap, allowing recipients to claim up to $7,500,000 total (up to $1,500,000 annually)

Requires approved companies to document actual project costs within three months of completion through certification by an independent certified public accountant

Mandates that only bona fide, third-party, arms-length capital expenditures count toward minimum investment thresholds, explicitly excluding developer fees, consulting fees, related-party payments, and internal cost allocations

Adds a new definition of "completion date" requiring projects to be completed within three years of the financial incentive agreement and placed in service generating revenue

Removes the requirement that $35 million tourism attractions be located within an entertainment district, and expands resort development eligibility to include 200 vacation rental units as an alternative to 200 hotel guest rooms