HB 359

This act amends Sections 40-18-470, 40-18-471, 40-18-472, and 40-18-473, Code of Alabama 1975, relating to the Sweet Home Alabama Tourism Investment Act, to: (1) define the term "completion date, add that resort developments may be qualifying projects if consisting of at least 200 vacation rental units and that tourism attractions are not required to be within an entertainment district to be a qualifying project; (2) authorize companies awarded a supplemental rebate to claim up to $7, 500, 000 over five years notwithstanding rebate limits; (3) require companies approved to receive a tax rebate from taxes generated by projects to document project costs certified by independent persons; and (4) require approved companies to verify specific information to ensure projects have met capital investment requirements."