MONTGOMERY — Gov. Kay Ivey signed into law Senate Bill 98 Tuesday, providing authority to counties to abate rollback ad valorem taxes for certain projects that qualify for the incentives under the Alabama Jobs Act.
The bill was sponsored by State Sen. Arthur Orr, R-Decatur, and State Rep. Danny Crawford, R-Athens. It will allow Limestone County to offer tax abatements as part of the Toyota-Mazda local incentives package.
The law became effective immediately with Ivey's signature.
“The Toyota-Mazda plant is one of the largest economic development projects in our state’s history,” Crawford said. “This bill ensures that local governments can live up to the commitments they made to attract this important venture.”
The governor said she was proud of the work that went into bringing Toyota and Mazda’s $1.6 billion investment and 4,000 new jobs to Alabama. She added the project is a testament to not only the state's leadership but also the quality of the workforce.
“Alabama is a business-friendly state, and this bill is further proof that we want companies who chose Alabama to thrive,” she said.
Orr said he appreciated Ivey signing the bill and for her efforts and those of Commerce Secretary Greg Canfield in landing the Toyota-Mazda project.
“Economic development takes everyone, and I am proud of the working relationship between the Governor’s Office and the Legislature which brought about these new jobs for the Tennessee Valley,” he said.
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