HB292 Alabama 2025 Session

Summary

Primary Sponsor

Neil RaffertyRepresentative

Democrat

Session

2025 Regular Session

Title

Economic development tax incentives; value of the repayment of awarded tax incentives required to be published

Summary

HB292 would require the Department of Commerce to publicly publish the full amount of any repayments of economic development incentives when a company fails to meet its project agreement terms.

What This Bill Does

The bill amends the existing law to require the Department of Commerce to publish all repayments of economic development incentives due to noncompliance with project agreements. For each incentivized project, the department must display details such as the company name, project county, estimated capital investment, estimated new jobs, estimated average hourly wage, estimated values of the jobs and investment credits, projected 10-year and 20-year returns on incentives, the value of any cash incentive committed, and the value of any repayment of tax incentives. It also requires aggregated performance data on all projects. The act takes effect on October 1, 2025.

Who It Affects

• Alabama Department of Commerce: must publish new repayment data and other project details on its website.
• Incentivized companies and Alabama residents/taxpayers: repayments and related project data will be publicly disclosed, increasing transparency about incentive programs.

Key Provisions

• Amends Section 40-18-379.1 to require the Department of Commerce to publish all repayments of economic development incentives due to noncompliance with project agreements.
• For each incentivized project, the department must publish: company name, county, estimated capital investment, estimated number of new jobs, estimated average hourly wage, estimated value of the jobs credit, estimated value of the investment credit, projected 10-year and 20-year return on incentives, value of any cash incentive committed, and value of any repayment of tax incentives.
• Includes aggregated performance data on all projects incentivized under the article.
• Effective date: October 1, 2025.

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