Ala. Code § 40-NEW

Current through the 2024 Regular Session.
Section 40-NEW - [Newly enacted section not yet numbered] [Effective 1/1/2025] Legislative findings and intent

The Legislature hereby makes the following findings of fact and declares its intent to be as follows:

Alabama is currently attracting and creating jobs and business investments at a record-setting pace. Despite historically low unemployment rates, Alabama's workforce participation rate ranked among the lowest in the country. One possible barrier to entering the workforce for some Alabamians is a lack of available, affordable, high-quality childcare. Furthermore, the grant, and any appropriations by the Legislature in furtherance thereof, serves a public purpose by conferring a direct public benefit of a reasonably general character through the promotion of public health, safety, morals, security, prosperity, contentment, and the general welfare of the community. The grant achieves this public purpose by increasing the quality of childcare to the general public, which has the effect of encouraging high-quality care and education for children and facilitating greater workforce participation throughout the state. It is the intent of the Legislature, by the passage of this legislation, to encourage more Alabamians to enter the workforce and gain employment by improving the quality and availability of childcare options for working parents. Accordingly, future efforts to extend or reauthorize this act should be preceded by consideration of the effectiveness of this legislation in achieving these policy goals. To this end, once this legislation has had a sufficient opportunity to be implemented and its effects measured, but before extending or reauthorizing this act, the Legislature should request and examine reports from:

(1) the Alabama Department of Revenue, to determine the usage of the tax credits; and
(2) from the Alabama Department of Labor and the Alabama Department of Commerce, to determine the impact of the tax credits on workforce participation.

Ala. Code § 40-NEW (1975)

Added by Act 2024-303,§ 1, eff. 1/1/2025.