Section 40-18-370.1 - Legislative findings as to enhancement of Alabama Jobs ActThe Legislature finds as follows:
(a) While Alabama's incentive programs have succeeded in growing industry in the more populated parts of the state, Alabama's rural and low growth communities have not enjoyed the same rates of success.(b) Alabama's incentives grew out of a need to attract heavy industry to the state. Now, Alabama must also prepare for the future by attracting and retaining high-tech companies, and preparing and retaining a workforce trained for such jobs.(c) New tools must be brought to bear to solve Alabama's rural, low growth, and high-tech deficits.(d) It is a public purpose to expand Alabama's incentives laws to attract and retain companies in rural and low growth areas in Alabama, and high-tech companies and workers throughout the state. The tools used in Act 2019-392 are urgently needed to solve these problems.(e) The Legislature finds that the enhancements to the Alabama Jobs Act, as found in Act 2019-392, may be made without compromising on the strict requirement that the state shall not offer any such incentives to the extent that the tax incentives sought exceed the anticipated revenues to the state, as required by Section 40-18-373(1)c.Ala. Code § 40-18-370.1 (1975)
Added by Act 2019-392,§ 2, eff. 8/5/2019.