Act 2023-34 provides a tax rebate to companies that have an approved certified tourism destination project that meet the criteria. The Alabama Tourism Department is the administering agency for certifying the qualifying tourism projects. To qualify for a tax rebate, the applicant must submit an application to the Alabama Tourism Department for approval. Please direct all inquiries regarding the eligibility and qualifications of prospective projects info@tourism.alabama.gov or 334-242-4169.
Provisions of the Sweet Home Alabama Tourism Investment Act:
- An approved company with a certified tourism destination project may receive tax rebates up to $5 million over 10 years per project, with a maximum of $1 million in rebates per calendar year.
- Allows tax rebates on state and local sales, lodging, and rental taxes generated and arising out of the certified tourism destination projects.
- No approved company may receive more than $1 million in tourism rebates in a calendar year.
- The tax rebate program is effective from August 1, 2023, through July 31, 2028, unless extended by legislative action.
Additional provisions include:
- No tax rebate shall be granted to an approved company during a tax year that the approved company is simultaneously receiving any other state tax incentive associated with any individual tourism attraction project.
- Any tax rebate shall be first applied to any outstanding tax obligation of the approved company that is due and payable to the state.
- Tax rebates are transferable to future owners of the qualified tourism destination project.