Section 40-18-383 - Maximum balance of outstanding incentives; availability of incentives to existing projects(a) At no time prior to the calendar year ending [ December 31, 2021 [, shall the annualized balance of the outstanding jobs act incentives exceed three hundred fifty million dollars ($350,000,000) [, which amount would increase to three hundred seventy-five million dollars ($375,000,000) for the calendar year ending December 31, 2023, four hundred million dollars ($400,000,000) for the calendar year ending December 31, 2024, four hundred twenty-five million dollars ($425,000,000) for the calendar year ending December 31, 2025, four hundred fifty million dollars ($450,000,000) for the calendar year ending December 31, 2026, and four hundred seventy-five million dollars ($475,000,000) for the calendar year ending December 31, 2027, unless the Legislature enacts legislation to allow additional jobs act incentives. Of the above annualized balance, twenty million dollars ($20,000,000) shall apply to qualifying projects located in targeted or jumpstart counties as described in Section 40-18-376.1. [
(b)[ Jobs act incentives under this article shall not be available for any qualifying project unless at least 80 percent of the [ employees created by the qualifying project are employed full time.Ala. Code § 40-18-383 (1975)
Amended by Act 2023-34,§ 2, eff. 4/20/2023.Amended by Act 2021-2,§ 1, eff. 2/12/2021.Amended by Act 2017-314,§ 1, eff. 5/18/2017.Added by Act 2015-27,§ 6 and 7, eff. 7/2/2015.