SB373 Alabama 2017 Session

Summary

Primary Sponsor

Trip Pittman

Republican

Session

Regular Session 2017

Title

Economic development, Alabama Jobs Act, incentives continued, cap on outstanding incentives, eliminated, Secs. 40-18-370, 40-18-382, 40-18-383 am'd.

Summary

SB373 extends Alabama Jobs Act incentives eligibility to project agreements signed by December 31, 2023 and exempts megaprojects from the $850 million cap.

What This Bill Does

If enacted, it allows projects with project agreements executed by 12/31/2023 to qualify for Jobs Act incentives rather than the prior cutoff. It also removes the cap for megaprojects, meaning their incentives don't count toward the $850 million limit. The general rule that incentives require an active project agreement remains, and lawmakers can vote to continue or reinstate incentives for dates beyond 12/31/2023; the cap applies to other projects unless such action is taken.

Who It Affects

• Approved (incentivized) companies and their related companies with qualifying projects that have project agreements executed by December 31, 2023.
• Megaprojects (defined by the act as certain large-scale projects) that qualify for incentives are exempt from the $850 million cap on outstanding incentives.

Key Provisions

• Extend the eligible project agreement deadline for incentives to December 31, 2023.
• Megaprojects are exempt from the $850 million aggregate cap on outstanding incentives.
• For other projects, the total outstanding incentives may not exceed $850 million unless the Legislature votes to allow more incentives; megaprojects are not counted toward this cap.
• Incentives are not available for projects without project agreements by December 31, 2023, unless the Legislature acts to continue or reinstate incentives after that date; the existing prohibition on incentives for projects with substantial construction begun before July 2, 2015 remains applicable.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Economic Development