On Thursday, the Senate passed two bills from the legislative package deemed the “Game Plan,” which aims to spur economic development in Alabama by increasing incentives for companies.
Sen. Garlan Gudger sponsored SB151, or the Transparency in Incentives Act. This proposed law would require the Alabama Department of Commerce to publish certain information related to economic incentives by amending the Alabama Jobs Act. The bill would also make the Alabama Department of Commerce divulge the value of any cash incentives extended for a project and the estimated return on incentives over a 10- to 20-year span.
“I am proud to see the successful passage of the Transparency in Incentives Act today,” Gudger said. “Increasing and enhancing the transparency of the incentives program serves our citizens and increases their confidence in the process. We always want to ensure Alabamians that tax-payer dollars are used efficiently and effectively for the betterment of their community and state.”
The second bill to pass was SB165, sponsored by Sen. Arthur Orr, or the Site Evaluation and Economic Development Strategy (Seeds) Act. This act would give the State Industrial Development Authority the power to issue grants and to accelerate the creation of industry-ready sites in Alabama.
“Passing the SEEDS Act is a huge win for Alabama businesses and job creation,” Orr said. “States across the country and region have been investing in their site development programs to attract potential employers, and now, Alabama is stepping up to enter the competition.”
Gov. Kay Ivey said she was excited to see the legislation be approved and believes the bills will help ensure economic success in Alabama.
“The Game Plan — our plan for Alabama’s continued economic success — had great momentum today in the Alabama Legislature,” Ivey said in a statement. “I commend both the Senate and House for their work on this package of bills and look forward to their final passage. Let’s keep Alabama winning!”