Amendment vs bill Amendment Z9JCRR-1 vs Enrolled

Struck = removed from the bill · added = the amendment's new text.

Previous
Latest
HB445 ENROLLED THGP95-2 By Representatives Garrett, Baker RFD:
Z9JCRR-1 05/30/2023 JF (F)lg 2023-1869 FTE Sub HB445 FINANCE AND TAXATION EDUCATION SUBSTITUTE TO HB445 OFFERED BY SENATOR ORR 2 SYNOPSIS:
Ways and Means Education First Read:
Under existing law, in Act 2023-34 of the 2023 Regular Session, the Growing Alabama incentive program was increased and extended, and the Sweet Home Alabama Tourism Investment Act was established to provide tax rebates for certain eligible tourism destination projects.
09-May-23 2023 Regular Session Page 0 HB445 Enrolled Enrolled, An Act, 3 Relating to economic development;
Under existing law, in Act 2023-35 of the 2023 Regular Session, the Site Evaluation Economic Development Strategy was enacted to authorize the State Industrial Development Authority to make site assessment and site development grants to certain companies.
This bill would make a technical edit to the Growing Alabama Act to correct an incorrect date referenced in the act.
This bill would clarify that tax rebates under the Sweet Home Alabama Tourism Investment Act would be available only for projects placed into service after the effective date of the act.
This bill would also make technical edits to the Site Evaluation Economic Development Strategy to align rural population provisions with the Jobs Act.
Page 1 A BILL TO BE ENTITLED AN ACT Relating to economic development;
to amend Section 41-7-3, Code of Alabama 1975 to include the Chairs of the Senate Finance and Taxation Education Committee and Ways and Means Education Committee and the ranking minority member of each committee to the Tourism Advisory Board;
Page 1 HB445 Enrolled (1) To offset the income taxes levied in this chapter, or as an estimated tax payment of income taxes.
(1) To offset the income taxes levied in this chapter, or as an estimated tax payment of income taxes.
(2) To offset the state portion of the financial institution excise tax levied in Chapter 16.
Page 2 (2) To offset the state portion of the financial institution excise tax levied in Chapter 16.
(d) The cumulative amount of funding approved pursuant to this section shall not exceed twenty million dollars ($20,000,000) in a calendar year for calendar years ending prior to January 1, 2024, which amount would increase to twenty-three million dollars ($23,000,000) for the calendar year ending December 31, 2024, twenty-six million dollars Page 2 HB445 Enrolled ($26,000,000) for the calendar year ending December 31, 2025, twenty-nine million dollars ($29,000,000) for the calendar year ending December 31, 2026, thirty-two million dollars ($32,000,000) for the calendar year ending December 31, 2027, and thirty-five million dollars ($35,000,000) for calendar year ending January 1December 31, 2028.
(d) The cumulative amount of funding approved pursuant to this section shall not exceed twenty million dollars ($20,000,000) in a calendar year for calendar years ending prior to January 1, 2024, which amount would increase to twenty-three million dollars ($23,000,000) for the calendar year ending December 31, 2024, twenty-six million dollars ($26,000,000) for the calendar year ending December 31, 2025, twenty-nine million dollars ($29,000,000) for the calendar Page 3 year ending December 31, 2026, thirty-two million dollars ($32,000,000) for the calendar year ending December 31, 2027, and thirty-five million dollars ($35,000,000) for calendar year ending January 1December 31, 2028.
(g) The Department of Finance shall adopt rules to ensure that the Growing Alabama Credit in no case would reduce the distribution for the Alabama Special Mental Health Trust Page 3 HB445 Enrolled Fund by using any unencumbered funds." Section 2.
(g) The Department of Finance shall adopt rules to ensure that the Growing Alabama Credit in no case would reduce the distribution for the Alabama Special Mental Health Trust Fund by using any unencumbered funds." Section 2.
Section 5 of Act 2023-34 of the 2023 Regular Session, now appearing as Sections 40-18-472 and 40-18-473, Code of Alabama 1975, is amended to read as follows:
Section 5 of Act 2023-34 of the 2023 Regular Page 4 Session, now appearing as Sections 40-18-472 and 40-18-473, Code of Alabama 1975, is amended to read as follows:
95 a.
a.
Each certificate shall include the amount of the approved project costs, the maximum rebate available, and the rebate term of 10 years with a five-year carry forward from the completion date or the date on or which five million dollars ($5,000,000) of the approved project costs has been rebated to the applicant, whichever threshold Page 4 HB445 Enrolled is met first." "§40-18-473 (a) A tax rebate from taxes generated within the tourism destination attraction by the certified tourism destination project over a 10-year period from the commencement of operation, which must occur after the effective date of the act adding this language, in the amount of up to five million dollars ($5,000,000) may be claimed.
Each certificate shall include the amount of the approved project costs, the maximum rebate available, and the rebate term of 10 years with a five-year carry forward from the completion date or the date on or which five million dollars ($5,000,000) of the approved project costs has been rebated to the applicant, whichever threshold is met first." "§40-18-473 Page 5 (a) A tax rebate from taxes generated within the tourism destination attraction by the certified tourism destination project over a 10-year period from the commencement of operation, which must occur after the effective date of the act adding this language, in the amount of up to five million dollars ($5,000,000) may be claimed.
(c)(b)(1) The tax rebates authorized by this actarticle are limited to an aggregate amount for all certified tourism destination projects of ten million dollars ($10,000,000) annually with 10 percent set aside annually for certified tourism destination projects located in targeted or jumpstart counties.
(c)(b)(1) The tax rebates authorized by this actarticle are limited to an aggregate amount for all certified tourism destination projects of ten million dollars ($10,000,000) annually with 10 percent set aside annually for certified tourism destination projects located in targeted or Alabama counties.
(4) Rebates authorized under this article shall be for up to 10 years, commencing on the date the tourism attraction Page 5 HB445 Enrolled opens for business, which must occur after the effective date of the act adding this language, and begins to collect taxes generated by, or arising within, the tourism destination project.
(4) Rebates authorized under this article shall be for up to 10 years, commencing on the date the tourism attraction opens for business, which must occur after the effective date of the act adding this language, and begins to collect taxes Page 6 generated by, or arising within, the tourism destination project.
Page 6 HB445 Enrolled (7) No tax rebate shall be granted to an approved company during a tax year that the approved company is simultaneously receiving any other state tax incentive associated with any individual tourism attraction project.
(7) No tax rebate shall be granted to an approved company during a tax year that the approved company is Page 7 simultaneously receiving any other state tax incentive associated with any individual tourism attraction project.
(c) Notwithstanding the ten million dollar ($10,000,000) annual cap on tax rebates allowed, the board may approve an annual onetime designation of an additional two million five hundred thousand dollars ($2,500,000) in tax rebates for one project per calendar year with a minimum capital investment amount of seventy-five million dollars ($75,000,000)." Section 3.
(d)(c) Notwithstanding the ten million dollar ($10,000,000) annual cap on tax rebates allowed, the board may approve an annual onetime designation of an additional two million five hundred thousand dollars ($2,500,000) in tax rebates for one project per calendar year with a minimum capital investment amount of seventy-five million dollars ($75,000,000)." Section 3.
Section 41-7-3, Code of Alabama 1975, is Page 7 HB445 Enrolled amended to read as follows:
Sections 41-10-47.03 and 41-10-47.04, Code of Alabama 1975, from Section 1 of Act 2023-35 of the 2023-35 of the 2023 Regular Session, are amended as follows:
"§41-7-3 (a) There is established the Advisory Board to the Alabama Tourism Department to advise and assist the director.
Page 8 "§41-10-47.03 (a) Any local economic development organization may apply to the authority for a site assessment grant.
The board shall be composed of 2125 members who shall be appointed as follows:
(1) Two members who shall be appointed by the Governor from a list of three persons for each board position which shall be submitted to the Governor by the Alabama Travel Council, or its successor organization.
(2) Two members who shall be appointed by the Governor from a list of three persons for each board position which shall be submitted to the Governor by the Alabama Hospitality Association, or its successor organization.
(3) Two members who shall be appointed by the Governor from a list of three persons for each board position which shall be submitted to the Governor by the Alabama Association of Convention and Visitor Bureaus, or its successor organization.
(4) Two members who shall be appointed by the Governor from a list of three persons for each board position which shall be submitted to the Governor from the Alabama Restaurant Association, or its successor organization.
(5) Two members who shall be appointed by the Governor from a list of three persons for each board position which shall be submitted to the Governor from the Alabama Cooperative Extension System who shall be representatives of the private sector rural tourism industry.
Page 8 HB445 Enrolled (6) Two members who shall be appointed by the Governor from a list of three persons for each board position which shall be submitted to the Governor from the Economic Development Association of Alabama, or its successor organization.
(7) Three members appointed by the Governor who are not current full-time public officials or public employees, but who are representatives of the private sector of the tourism industry in Alabama.
(8) The Director of the Alabama State Parks who shall serve as an ex officio member.
(9) The Director of the Alabama Historical Commission who shall serve as an ex officio member.
(10) The Director of the Alabama State Council on the Arts who shall serve as an ex officio member.
(11) The Director of the Alabama Cooperative Extension Service who shall serve as an ex officio member.
(12) The Director of the Alabama Department of Public Safety who shall serve as an ex officio member.
(13) The Director of the Alabama Department of Transportation who shall serve as an ex officio member.
(14) The Chair of the Senate Finance and Taxation Education Committee, the Chair of the House Ways and Means Education Committee, and the ranking minority member of each committee, or their designees.
(b) Ex officio members of the board shall be voting members, but shall serve as a member of the board only as long as the ex officio member holds his or her respective office.
Page 9 HB445 Enrolled Each member not serving in an ex officio capacity shall be appointed to a six-year term except for the initial appointments of one of the members for each of the positions designated in subsection (a), subdivisions (1) to (5), inclusive, which shall be appointed to initial three-year terms.
Members shall serve until their successors are appointed and qualified.
Vacancies which occur other than by expiration of the term shall be filled for the unexpired term only.
Show all 80 changed rows (40 more)
Previous
Latest
(c) The members of the board shall serve without compensation but shall be entitled to reimbursement for actual and necessary expenses incurred in the performance of their duties as members.
(d) The director shall be a nonvoting member of the board.
(e) Members of the board shall be residents of the State of Alabama, and to the extent possible, appointments to the board shall be made from all geographic regions of the State of Alabama in order to promote economic diversity from throughout the state.
Appointments to the board shall include Black and other minority representation, and to the extent possible, the appointments shall reflect the percentage of minority population of the state and the gender and urban and rural diversity of the state.
Those members of the board not serving in an ex officio capacity shall be actively employed in the tourism industry throughout the term of their appointment, and if the member ceases to be so employed, that person shall immediately cease to be a member of the board, Page 10 HB445 Enrolled and the appointing authority shall promptly appoint a new member in the manner consistent with the initial appointment procedure to fill the remainder of the term.
(f) All members shall be notified in writing of the time and place of any regular or special meeting.
Any member who misses four consecutive regularly scheduled meetings shall immediately cease to be a member of the board, and the appointing authority shall promptly appoint a new member in the manner consistent with the initial appointment procedure to fill the remainder of the term.
Such meeting requirements shall not apply to the director nor to ex officio members.
(g) The board shall meet at least quarterly, and shall perform the following duties:
(1) Serve as a body to advise the director and private persons on the development and implementation of state policies and programs relating to tourism and recreation and to assist in the coordination of these activities.
(2) Adopt bylaws, elect officers, including a chairperson, and establish procedures for its operation.
(3) Advise and review marketing and annual advertising plans developed by the department.
The comprehensive marketing plan shall be directed toward the accomplishment of at least the following purposes:
a.
Maximizing the return on public and private investment and tourism.
b.
Encouraging longer stays by visitors to Alabama.
c.
Assisting local entities in attracting conferences and conventions.
Page 11 HB445 Enrolled d.
Reducing season fluctuations in travel and tourist related industries.
e.
Encouraging visitors to be destination oriented in this state.
f.
Encouraging visitors from foreign countries to visit Alabama.
g.
Encouraging Alabamians to vacation in Alabama.
(h) Seek and review the views of all levels of government and the private sector with respect to state programs and policies for the promotion and assistance of tourism.
(i) Cooperate and provide expertise for communities and tourism marketing associations in the development and promotion of their tourism attractions and businesses.
(j) Establish working committees to advise the department with specific areas of operation including marketing, advertising, regional issues, administration of grant and co-op programs, and product and service development." Section 4.
Sections 41-10-47.03 and 41-10-47.04, Code of Alabama 1975, are amended to read as follows:
"§41-10-47.03 (a) Any local economic development organization may apply to the authority for a site assessment grant.
(1) The site is owned by a local economic development organization, or a local economic development organization has Page 12 HB445 Enrolled an option to purchase the site.
(1) The site is owned by a local economic development organization, or a local economic development organization has an option to purchase the site.
If the site is located in a county with a population of 150,000 or greater, for every dollar of grant funds, the applicant will contribute one dollar ($1) of additional funds.
If the site is located in a county with a population of 150,000 or greater, for every dollar of grant funds, the applicant will contribute one dollar ($1) of Page 9 additional funds.
(d) Each applicant must enter into a project agreement with the authority to establish the terms and conditions of Page 13 HB445 Enrolled the site assessment grant." "§41-10-47.04 (a) Any local economic development organization may apply to the authority for a site development grant.
(d) Each applicant must enter into a project agreement with the authority to establish the terms and conditions of the site assessment grant." "§41-10-47.04 (a) Any local economic development organization may apply to the authority for a site development grant.
If the site is located in a targeted county with a population of 12,000 or greater but less than 50,00060,000, for every dollar of grant funds, the applicant will contribute fifty cents ($0.50) of additional funds.
If the site is located in a targeted county with a population of 12,000 or greater but less than 50,00060,000, for every dollar of grant funds, the applicant will contribute Page 10 fifty cents ($0.50) of additional funds.
If the site is located in a county with a population of 150,000 or greater, for every dollar of grant funds, the Page 14 HB445 Enrolled applicant will contribute one dollar ($1) of additional funds.
If the site is located in a county with a population of 150,000 or greater, for every dollar of grant funds, the applicant will contribute one dollar ($1) of additional funds.
(d) Each applicantmust enter into a project agreement with the authority to establish the terms and conditions of the site development grant." Section 5.
(d) Each applicant must enter into a project agreement with the authority to establish the terms and conditions of the site development grant." Section 4.
Page 15 HB445 Enrolled ________________________________________________ Speaker of the House of Representatives ________________________________________________ President and Presiding Officer of the Senate House of Representatives I hereby certify that the within Act originated in and was passed by the House 25-May-23.
Page 11
John Treadwell Clerk Senate 01-Jun-23 Passed House 01-Jun-23 Concurred in Senate Amendment Page 16