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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2023 Alabama Legislative Regular Session
  5. 2023 Alabama House Bills
  6. HB247 Alabama 2023 Session

HB247 Alabama 2023 Session

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Bill Summary

Sponsors
  • Anthony Daniels
Session
Regular Session 2023
Title
Relating to economic development; to amend Sections 41-10-802 and 41-10-822, Code of Alabama 1975, to provide for a name change for the Alabama Innovation Corporation and revise the residency requirements for certain grant recipients; to amend Section 41-10-805, Code of Alabama 1975, relating to the Board of Directors of the Alabama Innovation Corporation, to make conforming changes to accurately cite the Code of Alabama 1975; and to add a new Article 22, commencing with Section 41-10-840, to Chapter 10 of Title 41, Code of Alabama 1975, to reestablish the technology accelerator tax credit program and the underrepresented company tax credit program as the Innovating Alabama tax credit program; and to exempt working groups, task forces, and subcommittees of the Alabama Innovation Corporation from the Alabama Open Meetings Act.
Description

Under existing law, the Alabama Innovation Corporation is a public corporation created to support, financially and otherwise, growth in technology, innovation, and entrepreneurship sectors in the state

This bill would authorize the Alabama Innovation Corporation to be known as Innovate Alabama

Under existing law, the Alabama Innovation Corporation is also authorized to make Small Business Innovation Research and Small Business Technology Transfer Research matching grants to certain entities

As a condition to receiving a grant, the entity must make its primary place of business in Alabama, the place of residency of one top executive must be in Alabama, and 75 percent of its employees must reside in Alabama for five years

This bill would add a one-year time frame for making Alabama the principal place of business, requiring the majority of top executives to reside in Alabama, and requiring a majority of employees reside in Alabama as a condition to receiving a grant

This bill would create the Innovating Alabama tax credit program to allow certain economic development organizations that create, operate, or support certain programs relating to technology HB247 INTRODUCED accelerators and underrepresented companies to claim specified tax credits

This bill would also exempt working groups, task forces, and subcommittees of the Alabama Innovation Corporation from the Alabama Open Meetings Act

Relating to economic development; to amend Sections 41-10-802 and 41-10-822, Code of Alabama 1975, to provide for a name change for the Alabama Innovation Corporation and revise the residency requirements for certain grant recipients; to amend Section 41-10-805, Code of Alabama 1975, relating to the Board of Directors of the Alabama Innovation Corporation, to make conforming changes to accurately cite the Code of Alabama 1975; and to add a new Article 22, commencing with Section 41-10-840, to Chapter 10 of Title 41, Code of Alabama 1975, to reestablish the technology accelerator tax credit program and the underrepresented company tax credit program as the Innovating Alabama tax credit program; and to exempt working groups, task forces, and subcommittees of the Alabama Innovation Corporation from the Alabama Open Meetings Act.

Bill Actions

Action DateChamberAction
April 19, 2023SRead Second Time in Second House
April 19, 2023SReported Out of Committee in Second House
April 19, 2023SReported Favorably from Senate Finance and Taxation Education
April 13, 2023SReferred to Committee to Senate Finance and Taxation Education
April 13, 2023HRead First Time in Second House
April 13, 2023HAdd Cosponsor
April 13, 2023HRead a Third Time and Pass
April 13, 2023HOn Third Reading in House of Origin
April 12, 2023HRead Second Time in House of Origin
April 12, 2023HReported Out of Committee in House of Origin
April 12, 2023HReported Favorably from House Ways and Means Education
April 4, 2023HIntroduced and Referred to House Ways and Means Education
April 4, 2023HRead First Time in House of Origin

Bill Calendar

TypeDateLocationDescription
HearingApril 19, 2023Finance and Taxation at 10:00Senate Finance and Taxation Education Hearing
HearingApril 12, 2023Room 200 at 09:00House Ways and Means Education Hearing

Bill Text

Download HB247 Alabama 2023 Session PDF

Bill Votes

Add Cosponsor
2023-04-13
Chamber: House
Result: Passed
Read a Third Time and Pass
2023-04-13
Chamber: House
Result: Passed

Bill Documents

TypeLink
Bill Text HB247 Alabama 2023 Session - Introduced
Fiscal Note Fiscal Note - As Introduced
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