- Associated Press - Thursday, April 2, 2015

MONTGOMERY, Ala. (AP) - Alabama Gov. Robert Bentley’s cornerstone economic development bill is headed to a conference committee.

House members said Thursday that they want more time to review Senate changes to legislation that would change the way Alabama recruits companies to the state.

The Senate added multiple amendments before passing the bill on Tuesday. One of those added an $850 million cap on annual incentives.

The bill would create a pay-as-you-go model for tax abatements and other benefits Alabama offers to companies that create jobs or capital investment in the state. Alabama’s present model offers companies incentives upfront.

The bill also requires a contract that would require companies to repay the state if they fail to meet their investment or job-creating obligations.

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