Alabama House Bill HJR270

Alabama 2022 Regular Session

• Introduced: 4/6/22
• Refer: 4/6/22

Caption

Joint Legislative Study Commission on Renewing Economic Development Incentives, created

Impact

The formation of this commission aims to create a systematic approach to reviewing the economic development incentives currently in use. With existing laws like the Alabama Jobs Act and the Growing Alabama Act set to expire in 2023, this legislative effort is crucial to ensure that Alabama continues to remain an attractive destination for businesses. Proponents of the bill believe that periodic evaluations will help enhance the performance and transparency of state incentives, ultimately benefiting the state's economy by ensuring that businesses can continue to rely on these incentives for growth and expansion.

Summary

HJR270 establishes the Joint Legislative Study Commission on Renewing Economic Development Incentives in Alabama. The bill recognizes Alabama's status as a competitive state for attracting and retaining businesses, highlighting that many businesses rely on economic development incentives to make location decisions. This commission is tasked with re-evaluating the effectiveness of existing economic incentives and making recommendations for their renewal, amendment, or consolidation in alignment with Alabama's current economic priorities. The commission is expected to deliver its recommendations before the January 31, 2023 deadline and will dissolve thereafter.

Contention

One notable aspect of the discussions surrounding HJR270 is the inclusion of diverse representation in the commission. Members are selected from various sectors including state government, business councils, and educational associations which aim to reflect the demographic and economic diversity of Alabama. There may be contention over what constitutes effective and ineffective economic development incentives and how changes might impact local businesses. Stakeholders may have differing views on which incentives should remain or be restructured, thus influencing the commission's outcome.