Under existing law, the state has established research and development corridors and grants as well as various tax abatements and incentives that include references to the now outdated Accelerate Alabama Strategic Economic Development Plan. These laws also include references to the 2012 North American Industry Classification System (NAICS) Codes used to classify business establishments by industry sector. This bill would remove references to the Accelerate Alabama Strategic Economic Development Plan and align relevant sections with the provisions of the Alabama Jobs Act. This bill would also update NAICS Codes used to classify business establishments by industry sector, bringing them in line with the latest updates released in 2022.

Statutes affected:
Introduced: 40-9B-3, 40-9G-1, 40-18-372, 11-66A-2, 40-9B-3, 40-9G-1, 40-18-372, 41-23-252