Gov. Kay Ivey announcing tax incentives aimed at creating jobs

Gov. Kay Ivey announcing tax incentives aimed at creating jobs

Gov. Kay Ivey and leaders in the Alabama Legislature will announce bills to renew and expand the laws the state uses to attract industry and jobs at a news conference in Montgomery today.

Ivey and lawmakers have said for months that updating the laws is a priority for the legislative session, which resumes Tuesday after a week off for spring break. The governor calls the four-bill package “The Game Plan.”

Two of the state’s tax incentive laws are scheduled to expire at the end of July. The Jobs Act provides rebates to companies that have project agreements with the state based on a percentage of the previous year’s payroll. The Jobs Act also provides investment credits, which are tax credits of up to 1.5 percent annually on capital investments for companies that qualify because of job creation or the amount of the investment. The other law that expires is the Growing Alabama Credit, which provides tax credits for donations to economic development organizations.

Last week, Ivey announced that companies made $10.1 billion in capital investments in Alabama last year, a new annual record for the state.

Today’s news conference is set for 3 p.m. at Montgomery Riverwalk Stadium.

This story will be updated.