MONTGOMERY – The Alabama Job Creation Act of 2012, passed out of committee yesterday. The bill, HB160 would allow new and existing companies to retain a percentage of state income taxes withheld from eligible employees.
Sen. Phil Williams, who is sponsoring the legislation in the Senate, said the bill is going to be key in keeping Alabama competitive in attracting businesses.
“19 other states have similar legislation already passed, which means we are behind the curve. This bill is critical for job growth in Alabama,” Williams said.
While the bill has experienced misguided opposition from special interest groups, Williams said the bill will grow the state economy, and allow for the creation of Jobs.
“We came into this session with a promise to the people of Alabama that we would work to improve the economy and create jobs. This bill is paramount, not just to the state economy and the education trust fund, but to the people of Alabama who are going to benefit from the jobs created.”
Governor Robert Bentley has also expressed his support of the bill.
“Creating jobs in Alabama is my #1 priority as governor,” Bentley said. “National and international companies are investing in Alabama because we have a favorable business climate and the best workforce training program in the country. To remain competitive with other states in our ability to recruit and retain industry, we need more effective, targeted incentives. This bill means more jobs for Alabama citizens, and it is a critical component of my economic development agenda. I applaud Senator Phil Williams for his leadership, and I will continue to work with him and the Legislature to pass this bill.”
Alabama Department of Commerce Secretary Greg Canfield joined Bentley in thanking Sen. Williams and Rep. Barry Mask for their work on the legislation and echoed the importance of the legislation.
“We appreciate the dedicated efforts of Senator Williams and Representative Mask as sponsors of this important bill. Alabama now has an incentive used in 19 other states that allows us to compete to create new jobs,” Canfield said. “The bill also will have a positive impact on the growth of revenue in the Education Trust Fund.”
The bill will be on the special order calendar in the near future.