The bill amends Section 40-18-374 of the Code of Alabama 1975, which pertains to the Alabama Jobs Act, to include provisions for the recapture of jobs act incentives. These incentives may be recaptured if the incentivized company or a related company is found to have engaged in human trafficking violations as specified in Sections 13A-6-152 and 13A-6-153, or if they have violated federal child labor provisions of the Fair Labor Standards Act of 1938. The amendment introduces new legal language that allows for the recapture of incentives in cases of such legal violations.

The bill outlines the requirements for an incentivized company to claim jobs act incentives, including the execution of a project agreement with the Governor containing specific details about the project and the incentives. It also specifies the conditions under which the incentive periods for the jobs act incentives begin and the lengths of these periods. The amendment adds to the provisions governing the recapture of jobs act incentives, expanding the circumstances under which recapture can occur to include human trafficking and child labor law violations. The act is set to become effective on October 1, 2024.

Statutes affected:
Introduced: 40-18-374
Engrossed: 40-18-374