The four-bill package renews the Alabama Jobs Act and Growing Alabama Act for five years and increases the caps on benefits that can go to companies. The laws were scheduled to expire in July. The package includes a grant program to evaluate and develop sites for industry and an Innovating Alabama tax credit to help technology companies.
Companion bills are moving in the Senate, which passed two of the four bills today, also without a dissenting vote.
Gov. Kay Ivey has named the legislation the Game Plan,and Republican and Democratic lawmakers are sponsoring bills.
“The Game Plan – our plan for Alabama’s continued economic success – had great momentum today in the Alabama Legislature,” Ivey said in a press release. “I commend both the Senate and the House for their work on this package of bills and look forward to their final passage.”
Rep. Danny Garrett, R- Trussville, sponsor of two of the bills, said the Jobs Act has helped the state recruit companies that have invested $22 billion and created 40,000 jobs since the law was passed in 2015. “It’s very critical that we renew this in order to keep track with what’s going on around the country,” Garrett said.
House Minority Leader Anthony Daniels, D- Huntsville, who is sponsoring HB247, the Innovating Alabama bill, said the goal is to build on the state’s success. “That’s what it’s all about at the end of the day,” Daniels said. “It’s creating jobs, creating opportunity, recruiting and retaining the work force that we currently have in this state. And attracting new employers to the state of Alabama. And I think this puts us in the best position that we’ve been in in a long time.”
One of the four bills, HB240, would require the Alabama Department of Commerce to post on its website specific information about the benefits paid to companies under the Alabama Jobs Act. The information includes the name of the incentivized company; the county of the qualifying project; the estimated capital investment; the estimated number of new jobs; the estimated average hourly wage; the estimated value of the jobs credit; the estimated value of the investment credit; the projected 10-year and 20-year return on incentives; and the value of any cash incentive that was committed.
Alabama Department of Commerce Secretary Greg Canfield said at a committee meeting on the bill Wednesday that a growing number of states are posting that information online. Senate President Pro Tem Greg Reed, R- Jasper, said it is important to make information how tax incentives are used readily available to the public.
“Now we don’t want to give away our trade secrets,” Reed said. “We’ve been careful to not do that. But for the people of Alabama, the Legislature, anyone concerned, how are we spending these dollars, what’s the process, now that’s new information that’s going to be available.”
Lawmakers adjourned this morning to hold a special joint session to recognize the military. The legislative session resumes on Tuesday and continues until June.
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