Politics & Government
Wed November 7, 2012
Voters OK Measure Designed to Bring Jobs to State
Alabama voters have approved a measure that Gov. Robert Bentley says will help bring jobs to the state.
Amendment 2 allows the state to sell more bonds to get money to offer industries to build or expand plants in Alabama. The constitution already allows the state to sell up to $750 million in bonds to offer as industrial incentives, and the state has issued $720 million.
Amendment 2 doesn't raise the $750 million cap. But it does provide that bonds that have been paid off and that bonds refinanced at lower interest rates will no longer count toward the $750 million total. That will allow the state to sell about $130 million in bonds in addition to the $30 million that is still available.
Copyright 2012 The Associated Press.