To establish the Angel Investor Tax Credit Act

HB 350 creates the Angel Investor Tax Credit Act, allowing Alabama residents or entities investing in qualifying startups to claim a 25% income tax credit on their investments. The credit applies to investments in businesses headquartered in Alabama with ≤100 employees, operating for ≤10 years, and focused on sectors like manufacturing, technology, or agribusiness (excluding retail or financial services). At least 50% of annual credits are reserved for "priority impact businesses" in healthcare, agriculture, education, or workforce development. Credits are capped at $250,000 per investor yearly and $12 million total annually for subsequent years, with requirements to maintain operations in Alabama for three years.