Alabama Senate Bill SB289

Alabama 2026 Regular Session

• Introduced: 2/10/26
• Refer: 2/10/26
• Report Pass: 2/25/26
• Refer: 2/26/26
• Report Pass: 3/11/26
• Enrolled: 4/9/26
• Passed: 4/16/26

Caption

Growing Alabama Act amended to allow sites owned by more than one local economic development organization to qualify

Impact

The adjustment in the bill is expected to enhance the ability of local economic organizations to better utilize state funds for site improvements. Specifically, it permits collaborative ownership, enabling different organizations to work together towards common developmental goals. Additionally, the application process includes requirements for economic impact reports, ensuring that funded projects have measurable benefits to the community. These improvements are likely to foster a more competitive environment for attracting businesses, ultimately aiming to bolster local economies.

Summary

SB289 aims to amend the existing Growing Alabama Act, allowing economic development organizations to apply for tax credits to make improvements on sites that are either owned solely or jointly. The bill seeks to include sites owned by multiple local development organizations as qualified applicants under the tax credit scheme. This marks a significant change, as previously only single ownership was recognized. This amendment is intended to streamline funding processes for collaborative local efforts to promote economic growth through infrastructure development.

Contention

Despite the positive outlook from supporters, there may be concerns regarding the oversight of fund usage and accountability. Critics argue that allowing joint ownership complicates the accountability and could lead to coordination challenges among multiple stakeholders. Moreover, while the bill updates the legislative language for clarity, some stakeholders fear that it may overlook the unique needs of individual communities, placing too much emphasis on broader economic impacts over localized priorities.