Senate Bill 289 Alabama 2026 Session

Summary

Primary Sponsor

Bobby D. SingletonSenator

Democrat

Session

2026 Regular Session

Title

Growing Alabama Act amended to allow sites owned by more than one local economic development organization to qualify

Summary

SB289 would expand Growing Alabama tax credits to sites owned by one or more local economic development organizations if all deed parties are eligible, and adds administrative updates and definitions.

What This Bill Does

It allows sites owned by multiple local economic development organizations to qualify for Growing Alabama tax credits, as long as every owner listed on the deed is an eligible applicant. It requires a joint application from all co-owners, adds conflict-of-interest and accountability requirements, and mandates periodic reporting on how funds are used. It also updates definitions (like capital improvements, inland port, and intermodal facility) and includes nondisruptive technical code revisions, with an effective date of June 1, 2026.

Who It Affects

• Local economic development organizations that own or co-own sites, who can apply for Growing Alabama credits and must meet joint-application, eligibility, and conflict-of-interest requirements.
• The Department of Commerce and the Renewal of Alabama Commission, which will administer, review, approve, and monitor approved projects, set site preferences, and publish approved applications.
• Industries or businesses seeking to locate at qualifying sites, who may benefit from expanded eligibility and earlier site readiness funded by these credits.

Key Provisions

• Expands eligibility to sites owned by one or more local economic development organizations; all deed parties must be eligible applicants.
• For multi-owner sites, requires a joint application from all co-owners and allows funding considerations based on site readiness, industry interest, and infrastructure needs.
• Defines terms such as capital improvements, inland port, intermodal facility, and local/state economic development organizations to support credit eligibility.
• Imposes conflict-of-interest policies, notarized assurances, and joint and several liability among co-applicants for fund disposition and required reports.
• Requires periodic (at least annual) reporting on fund use and includes economic impact reporting for inland port/intermodal and agricultural center projects.
• Gives the Renewal of Alabama Commission authority to approve applications, with preferences for large sites (e.g., 1,000 acres) and consideration of separate funding sources.
• The Department of Commerce must publish lists of approved applications and participating LEDOs; effective date is June 1, 2026.

AI-generated summary using openai/gpt-5-nano on Feb 12, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Economic Development