Creates the Steel and Advanced Manufacturing Competitiveness Act; creates Steel Industry Relief and Investment Grant Program; creates the Manufacturing Innovation and Modernization Tax Credit

This bill establishes the Steel and Advanced Manufacturing Competitiveness Act in Alabama to support local steel producers and industrial manufacturers facing challenges from global trade disruptions. It creates a $10 million annual grant program for eligible manufacturers to address trade-related hardships, fund working capital, retain skilled workers, or improve operational efficiency. The legislation also introduces a refundable income tax credit offering up to 20% of qualifying investments in advanced machinery or automation, capped at $1 million per company and $10 million statewide annually, effective for tax years 2027 through 2029. Additionally, the bill requires state infrastructure projects to prioritize domestically produced steel and components when available, establishes an export expansion initiative to help manufacturers access international markets, and creates a five-member board to monitor trade risks and recommend policy improvements.