New Incentives Law Targets Rural and Struggling Urban Areas
MONTGOMERY — A recently-passed bill aimed to spur job growth in rural and urban areas of the state has been signed into law by Gov. Kay Ivey. Sponsored by Rep. Bill Poole, R-Tuscaloosa, House Bill 540, dubbed the Alabama Incentives Modernization Act, is a set of tax incentives designed to enhance development in counties that are experiencing slow economic conditions and to help bring new technology companies to the state. Proponents of the legislation say it enhances current incentives, encourages investments in designated opportunity zones and offers a capital gains tax cut for tech companies moving to Alabama. Read more.