Alabama Rural, Agribusiness, and Opportunity Zone Jobs Act; certain state matching capital loans authorized, subject to appropriation

This bill authorizes the Alabama Innovation Corporation to provide state matching capital to certified growth funds, allowing these funds to offer loans and equity investments to small businesses in rural areas, agribusinesses, and minority-owned enterprises. The program specifically targets businesses with fewer than 200 employees located in rural counties or designated opportunity zones, requiring that any new jobs created pay at least 110% of the local average wage. Funding for these matching capital loans is contingent upon the state legislature appropriating additional money, and the bill also updates legal definitions related to agribusiness, minority ownership, and job retention metrics.