Relating to economic development; to add Article 2D, commencing with Section 41-10-47.01, to Chapter 10 of Title 41, Code of Alabama 1975; to authorize the State Industrial Development Authority to make site assessment grants and site development grants to certain companies; to provide for the criteria that must be met for grant approval; to provide for changes to criteria based on economic conditions; to limit the funding that may be received by any site under the grant program; to create the Alabama Site Development Fund and provide for its management; to amend Section 41-10-27.2, Code of Alabama 1975, providing for an annual appropriation to the State Industrial Development Authority, to authorize the appropriation to be expended on the grant program created herein; and to exempt the State Industrial Development Authority and certain economic development organizations from certain state laws.
Powering Growth Act established, Alabama Energy Infrastructure Bank and the Strategic Energy Procurement Fund established under the State Industrial Development Authority to assist in obtaining equipment and providing financing for qualified energy infrastructure projects
Relating to the Tax Incentive Reform Act; to authorize a public industrial authority to grant abatements for international headquarters of publicly traded companies