SB167ENGROSSED
Page 0
SB167
NUID888-2
By Senators Coleman, Hatcher, Coleman-Madison, Beasley,
Smitherman, Singleton, Stewart
RFD: Fiscal Responsibility and Economic Development
First Read: 27-Feb-24
1
2
3
4
5
6 SB167 Engrossed
Page 1
First Read: 27-Feb-24
A BILL
TO BE ENTITLED
AN ACT
Relating to the Alabama Jobs Act; to amend Section
40-18-374, as last amended by Act 2023-34, 2023 Regular
Session, Code of Alabama 1975; to provide any jobs act
incentives awarded to an incentivized company may be
recaptured if the incentivized company or a related company
engaged in human trafficking violations or violated the Fair
Labor Standards Act of 1938.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. Section 40-18-374, as last amended by Act
2023-34, 2023 Regular Session, Code of Alabama 1975, is
amended to read as follows:
"§40-18-374
(a) An incentivized company may claim either or both of
the jobs act incentives, to the extent provided in the project
agreement.
(b) In order for an incentivized company to claim the
jobs act incentives, the Governor and the incentivized company
shall execute a project agreement. The agreement shall contain
all of the following:
(1) The name of the incentivized company.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28 SB167 Engrossed
Page 2
(1) The name of the incentivized company.
(2) The location of the qualifying project.
(3) The activity to be conducted at the qualifying
project.
(4) The jobs act incentives to be granted.
(5) The capital investment to be made at the qualifying
project.
(6) The time period for the capital investment to be
made at the qualifying project.
(7) The number of employees at the qualifying project.
(8) The anticipated wages to be paid to or for the
benefit of employees during the incentive period for the jobs
created.
(9) The dates or conditions that shall begin the
running of the incentive periods for applicable jobs act
incentives.
(10) The lengths of the incentive periods for the jobs
act incentives.
(11) Any annual or aggregate limitations on the amount
of either or both of the jobs act incentives that can be
claimed during an incentive period.
(12) Provisions governing the recapture of all or part
of the jobs act incentives awarded to the qualifying project,
should the approved company default on its obligations in the
project agreement or should the incentivized company or a
related company engage in any act or practice that violates
the human trafficking laws as provided in Sections 13A-6-152
and 13A-6-153, or federal child labor provisions of the Fair
Labor Standards Act of 1938, 29 U.S.C. § 203 .
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56 SB167 Engrossed
Page 3
Labor Standards Act of 1938, 29 U.S.C. § 203 .
(13) Whether the project agreement may be assigned by
the approved company to some other purchaser, assignee, or
successor.
(14) Any other terms, conditions, and limitations that
this article or the Governor may require for an incentivized
company to qualify for and receive a jobs act incentive.
(15) Any other terms the parties deem necessary or
desirable.
(c) The Governor may decrease the amounts and durations
of the jobs act incentives to ensure that the anticipated
revenues for the state will exceed the amount of tax
incentives sought."
Section 2. This act shall become effective on October
1, 2024.
57
58
59
60
61
62
63
64
65
66
67
68
69
70 SB167 Engrossed
Page 4
1, 2024.
Senate
Read for the first time and referred
to the Senate committee on Fiscal
Responsibility and Economic
Development
................27-Feb-24
Read for the second time and placed
on the calendar:
0 amendments
................19-Mar-24
Read for the third time and passed
as amended
Yeas 29
Nays 0
Abstains 0
................16-Apr-24
Patrick Harris,
Secretary.
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92