From the Office of Senator Greg Reed
MONTGOMERY – The Senate passed SB400 earlier today, a bill aimed at helping businesses affected by the deadly storms that ravaged the state last year.
The bill, sponsored by Senator Greg Reed, would allow tax abatement incentive protection for businesses that have to relocate because of a tornado or other natural disasters. Reed said the bill is common sense legislation.
“We learned a lot after the April 27th tornados ripped across Alabama. One of those things was that we have to take care of the businesses that employ our Alabamians; the same Alabamians whose lives were shaken during these storms, and who are trying to rebuild.”
The Senate has put a renewed focus on job creating legislation. Reed says this bill honors that commitment and works to rebuild Alabama.
“These businesses shouldn’t be penalized for circumstances beyond their control. We want to make sure we honor our commitment as legislators to stand by these abatements so that Alabama businesses can go back to rebuilding.”