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HB 292

Income tax; certification of certain employers as living wage employers; provide

2025-2026 Regular Session Introduced by Debbie Buckner and 5 co-sponsors

House Bill 292 mandates Alabama to publish details on tax incentive repayments, enhancing transparency and accountability for companies under the Alabama Jobs Act.

House Second Readers
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Bill Summary · HB 292

Summary of House Bill 292

Bill Number: HB 292
Title: Economic development tax incentives; value of the repayment of awarded tax incentives required to be published
Status: Read for the first time and referred to the House Committee on Economic Development and Tourism
Introduced: February 18, 2025
Sponsor: Representative Neil Rafferty
Classification: Bill
Subject: Economic Development

Purpose and Intent

House Bill 292 aims to enhance transparency regarding economic development incentives awarded under the Alabama Jobs Act. The bill mandates that the Alabama Department of Commerce publish detailed information about repayments of tax incentives when companies fail to comply with the terms of their project agreements. This initiative is intended to hold incentivized companies accountable and provide the public with clearer insights into the effectiveness of economic development programs.

Key Provisions

  • Amendment to Existing Law: The bill proposes an amendment to Section 40-18-379.1 of the Code of Alabama 1975.

  • Publication Requirements: The Department of Commerce will be required to publish the following information on its website for each project incentivized under the Alabama Jobs Act:

    1. Name of the incentivized company
    2. County of the qualifying project
    3. Estimated capital investment
    4. Estimated number of new jobs created
    5. Estimated average hourly wage for new jobs
    6. Estimated value of jobs credit
    7. Estimated value of investment credit
    8. Projected 10-year and 20-year return on incentives
    9. Value of any cash incentives committed
    10. Value of any repayments of tax incentives due to non-compliance with project agreement terms

  • Aggregated Data: The bill also requires the publication of aggregated performance data on all projects incentivized under the Alabama Jobs Act.

Affected Parties

  • Incentivized Companies: Companies that receive economic development incentives will be directly affected, as they will be held accountable for compliance with project agreements.
  • Public and Stakeholders: The general public, policymakers, and stakeholders in economic development will benefit from increased transparency and access to information regarding the effectiveness and accountability of incentive programs.

Procedural Aspects

  • Effective Date: If passed, the act will become effective on October 1, 2025.
  • Current Status: As of February 18, 2025, the bill has been read for the first time and referred to the House Committee on Economic Development and Tourism for further consideration.

Fiscal Impact

According to the fiscal note, House Bill 292 is not expected to directly affect state or local funding.

This summary provides an overview of House Bill 292, highlighting its purpose, key provisions, and potential impacts on economic development practices in Alabama.

Compiled from official sources — confirm details with the bill’s official record.

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