SB373 Alabama 2017 Session
Bill Summary
Under existing law, the Alabama Jobs Act provides certain incentives and credits to certain qualifying projects. The act caps the aggregate balance of outstanding incentives at $850 million and provides that the incentives are not available to qualifying projects for which project agreements have not been executed on or before December 31, 2019
This bill would extend eligibility for incentives under the act to projects for which project agreements have been executed on or before December 31, 2023, and would exempt megaprojects, as defined by the act, from the $850 million aggregate cap on outstanding incentives
Relating to economic development; to amend Sections 40-18-370, as last amended by Act 2016-321, 2016 Regular Session, 40-18-382 and 40-18-383, Code of Alabama 1975, relating to the Alabama Jobs Act, to continue the eligibility for incentives under the act; and to exempt certain megaprojects, as defined by the act, from the $850 million aggregate cap on outstanding incentives.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 17, 2017 | S | Indefinitely Postponed |
| April 27, 2017 | S | Finance and Taxation General Fund first Amendment Offered |
| April 27, 2017 | S | Read for the second time and placed on the calendar 1 amendment |
| April 20, 2017 | S | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 26, 2017 | Room 727 at 09:30 | Senate F&TG Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB373 Alabama 2017 Session - Introduced |
| Bill Amendments | Senate Finance and Taxation General Fund first Amendment Offered |