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

Summary

The bill creates a Steel Industry Relief and Investment Grant Program that can award up to $10 million each year to steel producers and heavy manufacturers hurt by trade disruptions. It also provides a refundable tax credit of 20 % of qualifying equipment investments, capped at $1 million per company and $10 million statewide, and requires state construction contracts to favor domestic steel. Additional measures include an export‑expansion program and a board to monitor international trade risks, all aimed at keeping Alabama’s manufacturing sector competitive.

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