SB373 Alabama 2017 Session
Summary
- Primary Sponsor
-
Trip PittmanRepublican - 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.
- Description
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.
- Subjects
- Economic Development
Bill Actions
Indefinitely Postponed
Finance and Taxation General Fund first Amendment Offered
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Bill Text
Documents
Source: Alabama Legislature