Alabama § 40-18-374 - Claiming of Incentives; Project Agreement; Amounts and Durations of Incentives.
Full text of Alabama Code of Alabama § 40-18-374 — Claiming of Incentives; Project Agreement; Amounts and Durations of Incentives., with citation guidance and answers to common questions.
§ 40-18-374. Claiming of Incentives; Project Agreement; Amounts and Durations of Incentives.
(a) An incentivized company may claim either or both of the jobs act incentives, to the extent provided in the project agreement.
(b) In order for an incentivized company to claim the jobs act incentives, the Governor and the incentivized company shall execute a project agreement. The agreement shall contain all of the following:
(1) The name of the incentivized company.
(2) The location of the qualifying project.
(3) The activity to be conducted at the qualifying project.
(4) The jobs act incentives to be granted.
(5) The capital investment to be made at the qualifying project.
(6) The time period for the capital investment to be made at the qualifying project.
(7) The number of employees at the qualifying project.
(8) The anticipated wages to be paid to or for the benefit of employees during the incentive period for the jobs created.
(9) The dates or conditions that shall begin the running of the incentive periods for applicable jobs act incentives.
(10) The lengths of the incentive periods for the jobs act incentives.
(11) Any annual or aggregate limitations on the amount of either or both of the jobs act incentives that can be claimed during an incentive period.
(12) Provisions governing the recapture of all or part of the jobs act incentives awarded to the qualifying project, should the approved company default on its obligations in the project agreement.
(13) Whether the project agreement may be assigned by the approved company to some other purchaser, assignee, or successor.
(14) Any other terms, conditions, and limitations that this article or the Governor may require for an incentivized company to qualify for and receive a jobs act incentive.
(15) Any other terms the parties deem necessary or desirable.
(c) The Governor may decrease the amounts and durations of the jobs act incentives to ensure that the anticipated revenues for the state will exceed the amount of tax incentives sought.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-18-374
What does Code of Alabama § 40-18-374 cover?
Section 40-18-374 ("Claiming of Incentives; Project Agreement; Amounts and Durations of Incentives.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 40-18-374?
A common citation format is "Code of Alabama § 40-18-374" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 40-18-374 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.