Energy (Economic Development)

This bill establishes the State Energy Supply and Chemical Trade Stabilization Act to support Alabama's energy and chemical manufacturing sectors by addressing risks from global trade disruptions. It creates three main financial tools: a grant program with up to $2 million annually for facilities to mitigate trade-related losses and upgrade infrastructure, a refundable income tax credit covering 30% of qualifying investments capped at $2 million per year, and a low-interest loan program for site development and equipment. The legislation also forms a five-member board to assess trade vulnerabilities and recommend strategies for securing supply chains, with the department responsible for implementing rules and the act taking effect on July 1, 2026.