Legislative Update April 2024
There is now less than a week left in the 2024 legislative session and the Chamber is actively monitoring several bills that will impact our members and the Shoals economy as a whole. Below is a brief review of the bills we’re watching.
This bill would allow our local recording studios and music production professionals to capture incentives that are currently only available to film production companies in Alabama. The bill is being carried by Rep. Jamie Kiel. It is awaiting action in the House Ways and Means Education Committee.This bill would establish the Alabama Workforce Housing Tax Credit Act to authorize and provide a tax credit for qualified taxpayers owning an interest in a qualified workforce housing project located in the State of Alabama. Both the House and Senate versions of this bill are awaiting action in their original houses.
This bill creates the employer tax credit, childcare facility tax credit, and nonprofit childcare provider tax credit to incentivize employers to fund childcare for their employees and to enable childcare providers to offer more readily available, affordable, high-quality childcare. The bill is awaiting action in the house of origin.
This bill would rename the Alabama Department of Labor as the Alabama Department of Workforce and move almost every workforce development program currently under the Department of Commerce to the new department. The sole exception is AIDT, which is arguably the jewel in the crown of Commerce’s economic development strategy. This bill is awaiting action the House Economic Development and Tourism Committee.
This is the most comprehensive tort reform bill seen the legislature in the last decade. The bill would put a cap on non-economic damages for plaintiffs, create new requirements for attorney advertising, and require attorneys to disclose certain fee arrangements. The bill is pending committee action in House Judiciary.
The House unanimously passed a record-setting education budget at just over $11 billion. UNA is set to receive $53.3 million in FY25. That is up $4.5 million over the $48.8 million appropriated in FY24. The Alabama Community College system is also set to see an increase. Exact numbers for NWSCC were not available at the time of this publication. Grabbing most headlines is the fact the House budget calls for a 2% raise for teachers. The bill now goes to the Senate.
The Senate has passed its own record-setting budget, which is for the general fund. In Alabama, all government activities outside of education are set aside in a general fund budget which is funded by property taxes as well as various revenue streams. The bill has advanced from the Senate and is awaiting House action.