Enhanced economic incentives extended until July 31, 2023

With the governor’s signature today on Act No. 2021-2, the Alabama Jobs Act and Growing Alabama tax credits are extended until July 31, 2023.

Without dissent, the Alabama Senate voted Wednesday in favor of HB192 by Rep. Bill Poole, R-Tuscaloosa. The Senate companion was SB125 by Sen. Greg Reed, R-Jasper. The House approved the legislation Feb. 4.

Gov. Kay Ivey had already extended the incentives designed to attract private investment in Alabama in a Dec. 11 emergency proclamation.

The new law enhances the incentives, adding credits for pharmaceutical and medical research; for rural, minority and female-owned businesses; and for automakers shipping vehicles out of Alabama’s port in Mobile.

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