Under existing law, the Growing Alabama Act provides tax credits to taxpayers that agree to make cash contributions to an economic development organization approved by the Renewal of Alabama Commission to fund improvements to sites owned by local economic development organizations and intended to be used by an industry or business. This bill would allow sites owned by one or more local economic development organizations to qualify for Growing Alabama tax credits funding if all parties listed on the deed are eligible applicants. This bill would also make nonsubstantive, technical revisions to update existing code language to current style.

Statutes affected:
Introduced: 40-18-417, 40-18-417, 40-18-417