SB 151 — Relating to economic development; to add Section 40-18-379.1 to the Code of Alabama 1975, to require the Department of Commerce to publish certain information regarding economic development incentives awarded under the Alabama Jobs Act.

SB151 ENGROSSEDENROLLED BVTX4J-2BVTX4J-3 By Senators Gudger, Reed, Weaver, Allen, Butler, Jones, Chesteen, Price, Waggoner, Bell, Kelley, Chambliss, Sessions, Shelnutt, Scofield, Melson, Orr, Stewart, Smitherman, Hatcher, Coleman-Madison, Singleton RFD:

04-Apr-23 Page 0 SB151 EngrossedEnrolled 2Enrolled, 4An 6Act, A3 BILL5 TO BE ENTITLED AN ACT Relating to economic development;

Page 1 SB151 Engrossed (2) The chairs of the Senate Finance and Taxation General Fund and Education Fund committees.

Page 1 SB151 Enrolled (4) The President Pro Tempore of the Senate, or his or her designee, the chair of the Senate Committee on Fiscal Responsibility and Economic Development or its successor committee, if any.

(c)(c)(1) The committee shall hold an organizational meeting by August 1, 2015, and shall therein elect a chair and vice chair from among its members.

(2) Beginning on the effective date of this act, in the first year of each quadrennium, the committee shall elect from its membership a chair and vice-chair which shall rotate between members from the House and Senate.

The chair shall be elected from the House and the vice-chair from the Senate to serve the first two years of each quadrennium.

Beginning with the third January 1 of the quadrennium and to serve for the remainder of the quadrennium, the vice-chair shall become the chair, and the chair shall become the vice-chair.

If the chair becomes vacant, the vice-chair shall serve as chair until a replacement chair is elected.

An election to fill a vacancy of Page 2 SB151 Enrolled the chair or vice-chair shall occur at the next meeting of the committee.

(e) The committee shall monitor and evaluate the management process and standards used by the Department of Page 2 SB151 Engrossed Commerce in the development of project agreements and in the awarding of economic development incentives as authorized by the laws of this state.

The Department of Revenue shall assist the Department Page 3 SB151 Enrolled of Commerce in the calculations required in this section.

(g)(1)(g) The committeeDepartment mayof requestCommerce, thatthe aDepartment third-partyof evaluationRevenue, beand conducted assessing the impactsDepartment of stateFinance economicshall developmentcollectively incentives,report, inno later than January 1 of each year, the formaggregate amount of anincentives annualcommitted Executiveby Report.tax source on executed project agreements during the past fiscal year.

Nothing in this subsection shall require or authorize the disclosure of any individual taxpayer or taxpayer identifying information.

(h)(1) The committee may request that a third-party evaluation be conducted assessing the impacts of state 95 economic development incentives, in the form of an annual Executive Report.

Page 3 SB151 Engrossed (2) The Department of Commerce, the Department of Revenue, and the Department of Labor shall cooperate with, and timely provide requested datanonconfidential information to, the chosen third party conducting the evaluation.

(g)(h)(g)(i) The committee shall make an annual report of its findings and recommendations to the Legislature during each regular session, and in its discretion may submit additional 95 reports from time to time, or at any time.

(h)(i)(h)(j) In no event shall the Department of Commerce be required to disclose matters which would cause it to violate Page 4 SB151 Enrolled any nondisclosure agreement executed for a project.

(i)(j)(i)(k) Meetings of the committee are exempt from Chapter 205A of Title 36, provided that the minutes of each meeting shall be made available for public inspection.

(j)(k)(j)(l) The membership of the committee shall be Page 4 SB151 Engrossed inclusive and shall reflect the racial, gender, geographic, urban/rural, and economic diversity of the state."state. Section 2.

(m) Upon request of the chair, the Secretary of the Senate and the Clerk of the House shall provide clerical assistance as the committee requires." Section 2.

Page 5 SB151 Enrolled c.

Page 56 SB151 EngrossedEnrolled Senate________________________________________________ ReadPresident forand thePresiding firstOfficer timeof andthe referredSenate ................04-Apr-23________________________________________________ toSpeaker of the SenateHouse committeeof onRepresentatives FiscalSB151 ResponsibilitySenate and13-Apr-23 EconomicI Developmenthereby Readcertify forthat the secondwithin timeAct andoriginated placedin ................11-Apr-23and onpassed the calendar:Senate, as amended.

amendment Read for the third time and passed ................13-Apr-23 as amended Yeas 30 Nays 0 Abstains 0 Patrick Harris, Secretary.

PageHouse 6of Representatives Amended and passed:

20-Apr-23 Senate concurred in House amendment 20-Apr-23 By:

Senator Gudger Page 7