Alabama House passes business tax incentive bill
MONTGOMERY, Ala. (WSFA) - The Alabama House passed a bill aimed at recruiting businesses to Alabama. Lawmakers believe this bill will help bring jobs into the state.
This bill provides tax credits for some businesses that meet certain benchmarks, such as hiring a certain number of employees.
These tax credits had expired in 2020 so lawmakers are working to renew them.
The bill’s sponsor says the goal is to attract private investment to Alabama.
Only one House lawmaker, Rep. Andrew Sorrell, voted against the bill, saying he thought it was unfair to smaller businesses.
“The bill is unintentionally picking winning and losers,” Sorrell said.
This is a priority bill for Republicans in both the House and the Senate, so it is expected that the bill will be fast tracked through the state Legislature.
“We’re in competition with our neighboring states, we’re in competition with the southeast. And so if you sit back and offered nothing, then you would pretty well be left out or you would not be competitive. And so because of that, that’s why this this feels so important,” said House Speaker Mac McCutcheon.
The Senate is expected to take up the bill next week.
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