SB36
164298-1:n:01/23/2015:LFO-JF/ccd SB36 By Senator Holley RFD Finance and Taxation Education Rd 1 03-MAR-15 SYNOPSIS: This bill would change the Alabama New Markets Development Act to allow the Governor to award via executive order an additional $5 Million to the existing cap of $20 Million and to provide further for the allocation of the tax credits A BILL TO BE ENTITLED AN ACT Amending the annual state cap limits to allow the Governor to issue additional credits relating to the Alabama New Markets Development Act and to provide further for the allocation of the tax credits. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. Section 41-9-219.2, Code of Alabama 1975, is amended to read as follows: §41-9-219.2 Once the department has certified a cumulative amount of qualified equity investments that can result in the utilization of twenty million dollars ($20,000,000) of tax credits in any tax year, the department may not certify any more qualified equity investments under Section...
alisondb.legislature.state.al.us/...ableinstruments/2015rs/bills/SB36.htm - 2K - Match Info - Similar pages
SB163
164298-4:n:02/12/2015:LFO-JF/bdl SB163 By Senator Holley RFD Finance and Taxation Education Rd 1 05-MAR-15 SYNOPSIS: This bill would change the Alabama New Markets Development Act to allow the Governor to provide via executive order for an additional $5 Million to the existing cap of $20 Million. A BILL TO BE ENTITLED AN ACT Amending the annual state cap limits to allow the Governor to provide an additional credits relating to the Alabama New Markets Development Act. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. Section 41-9-219.2, Code of Alabama 1975, is amended to read as follows: §41-9-219.2 Once the department has certified a cumulative amount of qualified equity investments that can result in the utilization of twenty million dollars ($20,000,000) of tax credits in any tax year, the department may not certify any more qualified equity investments under Section 41-9-219.3 except as provided below. This limitation shall be based on the scheduled utilization of tax...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/SB163.htm - 2K - Match Info - Similar pages
HB533
167109-1:n:04/15/2015:LFO-KF/bdl HB533 By Representatives Ainsworth, Henry, Farley, Moore (B), Mooney, Williams (P), Fridy, Holmes (M), Wingo, Greer, Wilcox and Butler RFD Ways and Means Education Rd 1 21-APR-15 SYNOPSIS: This bill would amend Sections 2-21-24, 2-22-9, 2-23-5, 2-26-15, 8-17-91, 9-13-84, 10A-1-4.31, 22-21-24, 22-21-46, 22-27-17, 22-30B-2.1, 22-40A-15, 27-4-2, 27-4A-3, 28-3-74, 28-3-184, 28-3-200, 28-3-201, 28-3-202, 28-3-203, 28-3-204, 28-7-16, 32-2-8, 32-6-5, 32-6-6.1, 32-6-49.19, 32-8-6, 33-5-10, 38-4-12, 38-4-12.1, 38-4-13, 40-1-31, 40-8-3, 40-12-246.1, 40-12-318, 40-17-223, 40-17-360, 40-21-51, 40-21-87, 40-21-107, 40-21-123, 40-23-2, 40-23-35, 40-23-50, 40-23-61, 40-23-77, 40-23-85, 40-23-108, 40-23-174, 40-25-23, and 40-26-20 Code of Alabama 1975, to provide further for the distribution of state tax revenues. A BILL TO BE ENTITLED AN ACT To amend Sections 2-21-24, 2-22-9, 2-23-5, 2-26-15, 8-17-91, 9-13-84, 10A-1-4.31, 22-21-24, 22-21-46, 22-27-17, 22-30B-2.1,...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB533.htm - 173K - Match Info - Similar pages
HB416
Rep(s). By Representative Pringle HB416 ENGROSSED A BILL TO BE ENTITLED AN ACT To enact the Alabama Renewal Act; to enact new programs for the growth of business and industry in Alabama; to create tax credits for increased use of the states port facilities; to create the Growing Alabama Act tax credit to address economic development needs in Alabama that cannot be solved with traditional tax incentives; to cap the credits; to provide for the carryforward of certain earned but unused credits; to provide methods for claiming certain credits; to provide for proof that credits are due to be granted; to provide for the promulgation of forms; to create new Articles 18 and 19 of Chapter 18 of Title 40; to provide for the promulgation of regulations; to provide for the severability of invalid provisions; to provide for the repeal of conflicting laws; to provide for effective dates. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. This act shall be known as the Alabama Renewal Act....
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB416.htm - 31K - Match Info - Similar pages
HB368
166407-1:n:03/31/2015:JET/mfc LRS2015-1246 HB368 By Representative Black RFD Economic Development and Tourism Rd 1 31-MAR-15 SYNOPSIS: Under existing law, premium tax credits are authorized under the Certified Capital Company program to investors who contribute capital to certified capital companies. This bill would create the Alabama Small Business Investment Act to replace references to certified capital companies with Alabama small business investment companies and would further define the term community outreach as it relates to these companies. This bill would further provide for application procedures for the Alabama small business investment companies and would further provide for the decertification of an Alabama small business investment company. This bill would also establish additional requirements for the allocation of a tax credit for these companies, provide for a third allocation of tax credits, and would require the Department of Commerce to post certain related...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB368.htm - 26K - Match Info - Similar pages
HB58
Rep(s). By Representative Baker HB58 ENROLLED, An Act, To enact the Alabama Jobs Act; to authorize and provide for a jobs credit incentive and an investment credit incentive to certain businesses for approved projects that create new jobs in Alabama; to provide that the incentives would only be available following the execution of a project agreement and a determination that the economic benefits of the project would exceed the cost of the incentives to the state; to allow the jobs credit for 10 years in an amount of 3 percent of the previous year's annual wages for eligible employees; to apply the jobs credit against the utility gross receipts and utility service use taxes; to provide that the jobs credit could be refundable during the incentive period; to provide that the jobs credit may be claimed as a credit against utility taxes paid with a carryforward for earned but unused amounts; to allow the investment credit in an amount of 1.5 percent of a qualified capital investment...
alisondb.legislature.state.al.us/...ableinstruments/2015rs/bills/HB58.htm - 42K - Match Info - Similar pages
HB584
be deposited with the State Treasurer to be continuously appropriated to the Department of Human Resources to assist all children in temporary or permanent custody in foster care. "(9) Contributions designated for mental health on the Alabama state resident individual income tax return shall be deposited with the State Treasurer and shall be distributed equally to the Alliance for the Mentally Ill of Alabama and to the Mental Health Consumers of Alabama. "(10) Contributions to the Alabama Breast and Cervical Cancer Research Program shall be deposited with the State Treasurer and distributed to the University of Alabama at Birmingham, which shall implement and administer the program. "(11) Contributions to the Neighbors Helping Neighbors Fund shall be deposited with the State Treasurer for distribution by the Department of Economic and Community Affairs for weatherization assistance as provided for under Article 6, commencing with Section 41-23-100, Chapter 23, Title 41. "(12)...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB584.htm - 136K - Match Info - Similar pages
HB304
165935-1::03/17/2015:EBO-JK/JK HB304 By Representatives Williams (P) and Ball RFD Technology and Research Rd 1 17-MAR-15 SYNOPSIS: Under existing law, there are no economic incentives or tax credits extended to Alabama businesses for qualified research expenses incurred by Alabama companies that spend funds and resources in-house, or pay Alabama research companies to conduct qualified research for new or improved products or services. This bill would establish the Alabama Innovation Act that would provide for a research and development tax credit to certain Alabama companies modeled on the federal research and development tax credit. The credit would be 25 percent of new research at an Alabama research entity, and 5 percent for other new research conducted in Alabama. The credit could be taken against the income tax or the financial institution excise tax. This bill would limit the Alabama Innovation tax credits to no more than $10 million of credits per year, and no eligible company...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB304.htm - 16K - Match Info - Similar pages
HB455
164979-1:n:02/27/2015:LFO-KF/bdl HB455 By Representatives Lindsey and Scott RFD Ways and Means Education Rd 1 09-APR-15 SYNOPSIS: This bill defines unitary business and requires taxpayers who are part of a unitary business to use a combined report to determine their Alabama taxable income. A BILL TO BE ENTITLED AN ACT To amend Section 40-18-1, Code of Alabama 1975, to provide for additional definitions and Sections 40-2A-17 and 40-18-39, Code of Alabama 1975, to require taxpayers who are part of a unitary business to use a combined report to determine their Alabama taxable income. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 40-2A-17, 40-18-1 and 40-18-39, Code of Alabama 1975, are hereby amended to read as follows: §40-2A-17. "For purposes of the tax imposed in Chapter 18 of this title, the following rules shall apply: "(a) In any case of two or more organizations, trades, or businesses (whether or not affiliated within the meaning of 26 U.S.C. § 1504) owned or...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB455.htm - 31K - Match Info - Similar pages
HB214
Rep(s). By Representatives Gaston, Buskey, McMillan, Boothe, Poole, Garrett, Collins, Todd, Tuggle, Chesteen, Henry, Rogers, Williams (P), Ford and Baker HB214 ENGROSSED A BILL TO BE ENTITLED AN ACT To amend Sections 40-9F-4 and 40-9F-7, Code of Alabama 1975, relating to the tax credit against the tax liability of certain taxpayers for the substantial rehabilitation of qualified structures; to authorize a seven-year extension of the tax credit. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 40-9F-4 and 40-9F-7, Code of Alabama 1975, are amended to read as follows: §40-9F-4. "(a) The state portion of any tax credit against the tax imposed by Chapters 16 and 18, for the taxable year in which the certified rehabilitation is placed in service, shall be equal to 25 percent of the qualified rehabilitation expenditures for certified historic structures, and shall be 10 percent of the qualified rehabilitation expenditures for qualified pre-1936 non-historic structures. No tax...
alisondb.legislature.state.al.us/...bleinstruments/2015rs/bills/HB214.htm - 8K - Match Info - Similar pages
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