Under current law, the Sweet Home Alabama Tourism Investment Act provides tax rebates to companies with certain tourism destination projects in amounts equal to the company's tax liability for state and local sales and use tax, lodgings tax, and other transactional taxes associated with the project. This bill clarifies that the annual one-time two million five hundred thousand dollar ($2,500,000) award is supplemental to the initial award. This bill would also require approved companies to document actual cost of projects through certification by an independent certified public accountant. Finally, this bill would require certification of project costs.

Statutes affected:
Introduced: 40-18-470, 40-18-471, 40-18-472, 40-18-473