SB252 Alabama 2024 Session

Summary

Primary Sponsor

Greg J. Reed

Republican

Session

Regular Session 2024

Title

Alabama Growth Alliance Bill

Summary

The bill creates the Alabama Growth Alliance, a public corporation governed by a mixed public-private board to guide Alabama’s long-term economic development.

What This Bill Does

It establishes the Alabama Growth Alliance as a separate public corporation and forms a governance board of ex officio (public sector) and private-sector members to develop and monitor a long-range economic development plan. The board can enter contracts, hire staff, manage funds, and work with state agencies and private partners to support objectives like increasing investment, expanding manufacturing, and promoting rural and minority-owned business opportunities. It also requires biennial review of incentives, adoption of bylaws, and an annual report to the Legislature starting in 2026, with dissolution rules if needed and an effective start date of October 1, 2024.

Who It Affects

• Private-sector leaders and economic development organizations (such as chambers of commerce) will be eligible to serve as at-large board members and to participate in shaping long-range strategies, with potential contracts, funding opportunities, and travel reimbursements tied to the alliance’s activities.
• Alabama state government and public officials (Governor,Secretary of Commerce, lawmakers) will oversee and interact with the new public corporation, including appointing members, approving amendments, coordinating with agencies, and receiving annual performance reports.

Key Provisions

• Creation of the Alabama Growth Alliance as a public corporation with a Board of Directors including ex officio public officials and private-sector at-large members.
• Board duties and powers to develop, monitor, and update the state's long-range economic development vision, set objectives and tactics, coordinate across agencies and private entities, and support incentives and investment efforts.
• Authority to enter contracts, hire staff, manage funds, grant money, and enter into agreements with economic development entities and other public or private partners, including public-private partnerships.
• Biennial review of economic development incentives and related programs, with input coordinated with the Joint Legislative Advisory Committee on Economic Incentives or contracted third parties.
• Dissolution process requiring a supermajority vote, with state ownership of assets upon dissolution.
• Mandatory annual reporting to the Legislature before each session starting in 2026 detailing progress toward goals.
• Effective date: October 1, 2024.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Economic Development