Economic Development; small towns, programs established to fund businesses, reuse of properties, and other grants, administered by Alabama Department of Economic and Community Affairs; tax credit established

This bill establishes the Main Street Revival Act to support economic development in small Alabama towns with populations under 25,000. It creates four grant programs administered by the Alabama Department of Economic and Community Affairs to help businesses start or expand, preserve historic commercial buildings, support temporary retail spaces and business mentorship, and assist local governments with updating zoning and land use regulations. Additionally, the bill creates a 25 percent income tax credit for property owners who renovate eligible vacant or underutilized commercial properties. Funding for these programs depends on future legislative appropriations, and the law takes effect on January 1, 2027.