The Growing Alabama Act, the Innovating Alabama Act, the Alabama Jobs Act, and the governing definitions and powers granted to Innovate Alabama rely on the federal definition of New Market Tax Credit census tracts for eligible projects. The federal map of census tracts will change on September 1, 2024, making some communities that are currently eligible for state incentives ineligible. This bill would allow those existing communities to still qualify for the named initiatives and incentives.

Statutes affected:
Introduced: 40-18-376, 40-18-417, 41-10-801, 41-10-804, 41-10-842