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HB390
175246-1:n:03/10/2016:PMG/cj LRS2016-925 HB390 By Representative Pringle RFD Technology and
Research Rd 1 10-MAR-16 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 research at an Alabama research entity, and 10 percent for other 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 twenty-five
million dollars ($25,000,000) of credits per year, and no...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB390.htm - 11K - Match Info - Similar pages
SB15
services to and on behalf of needy persons. b. a. Nine and nine one-hundredths percent shall
be set apart and used for the following purposes only and in the following order: 1. So much
thereof as may be necessary for such purpose is hereby appropriated and shall be used by the
State Treasurer to pay at their respective maturities the principal and interest that will
mature during the then current fiscal year on all bonds at the time outstanding that may have
been issued by the State Industrial Development Authority under the provisions of the
following acts: (i) Acts 1967, No. 231; (ii) Acts 1971, No. 1420; (iii) Acts 1973, No. 1039;
(iv) Acts 1975, No. 1217; (v) Acts 1978, 2nd Ex. Sess., No. 99; (vi) Acts 1981, No. 81-843;
(vii) Acts 1983, No. 83-925; and (viii) Acts 1987, No. 87-550. 2. The balance thereafter remaining
during each fiscal year shall be paid into the State General Fund. a special fund in the State
Treasury to be designated the "General and Mental Health Fund,"...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB15.htm - 81K - Match Info - Similar pages
HB224
Rep(s). By Representative Garrett HB224 ENGROSSED A BILL TO BE ENTITLED AN ACT To establish
the Alabama Small Business Investment Company Act; to provide for tax credits for taxpayers
that make eligible capital contributions to an eligible Alabama small business investment
fund; to require the Department of Commerce to accept applications for eligibility as an Alabama
small business investment fund and to make determinations of eligibility; to specify the amount
of tax credits that may be claimed for eligible contributions; to provide for the carrying
forward of credits under certain conditions; to provide procedures for the revocation of tax
credits for ineligible contributions; to provide procedures for the exit from the program;
to require each small business investment fund to report to the department certain employment
and financial information; to require the department to provide certain information regarding
whether businesses satisfy certain criteria relating to instate...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB224.htm - 24K - Match Info - Similar pages
SB242
173544-1:n:02/05/2016:LFO-HP*/bdl SB242 By Senator Pittman RFD Finance and Taxation Education
Rd 1 16-FEB-16 SYNOPSIS: This bill updates the sales and use tax laws to provide for definitions
of tangible personal property and digital goods. This bill also amends the definition of a
wholesale sale to add clarification and consistency to the sales and use tax code. A BILL
TO BE ENTITLED AN ACT Relating to sales and use tax definitions; to amend Sections 40-23-1,
40-23-2, 40-23-60, and 40-23-61 of the Code of Alabama 1975, to add and update definitions.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 40-23-1, 40-23-2, 40-23-60,
and 40-23-61, Code of Alabama 1975 are hereby amended to read as follows: §40-23-1. "(a)
For the purpose of this division, the following terms shall have the respective meanings ascribed
by this section: "(1) PERSON or COMPANY. Used interchangeably, includes any individual,
firm, copartnership, association, corporation, receiver, trustee, or any...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB242.htm - 47K - Match Info - Similar pages
SB214
173272-1:n:02/01/2016:MCS/tj LRS2016-224 SB214 By Senators Scofield, Livingston, Ward, Stutts,
Melson, Reed, Dial and Whatley RFD Finance and Taxation Education Rd 1 11-FEB-16 SYNOPSIS:
This bill would encourage accelerated investment in broadband infrastructure by private businesses
by providing a nonrefundable income tax credit equal to 10 percent of the qualified investment
in new broadband telecommunications network facilities in the state. A BILL TO BE ENTITLED
AN ACT To amend Section 40-18-370, Code of Alabama 1975, and to add Section 40-18-370.1 to
the Code of Alabama 1975, to provide a nonrefundable income tax credit for a certain percentage
of qualifying investment in each new broadband telecommunication network facilitiy, as defined,
in Alabama. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 40-18-370, Code
of Alabama 1975, is amended to read as follows: §40-18-370. "(a) This article shall
be known and may be cited as the Alabama Jobs Act. "(b) The...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB214.htm - 9K - Match Info - Similar pages
HB34
(1) GROWING ALABAMA CREDIT. The credit provided for in Section 40-18-413(a). (2) INDUSTRY OR
BUSINESS. An entity which would conduct at a site an activity that is primarily described
in Section 40-18-372(1). (3) LOCAL ECONOMIC DEVELOPMENT ORGANIZATIONS. Organizations which
are determined by the Department of Commerce to meet both of the following criteria: a. The
organization is an Alabama entity not operating for a profit, including, but not limited to,
a municipality or county, an industrial board or authority, a chamber of commerce,
or some other foundation or Alabama nonprofit corporation charged with improving a community
or region of the state; and b. The organization has a record of supporting or otherwise participating
in economic development activities in some part of Alabama. (4) RENEWAL OF ALABAMA COMMISSION.
The Renewal of Alabama Commission created by Section 40-18-402. (5) SITE. Real property owned
by a local economic development organization and intended for use...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB34.htm - 25K - Match Info - Similar pages
HB144
172273-1:n:10/09/2015:LLR/th LRS2015-2931 HB144 By Representatives Hanes, Holmes (M), Harbison,
Whorton (R), Butler, Shedd, Standridge, Whorton (I), Wadsworth, Williams (JW), Ledbetter,
Wingo and Sessions RFD Ways and Means Education Rd 1 09-FEB-16 SYNOPSIS: Under existing law,
various programs and organizations receive funds from income tax check-offs. This bill would
provide an income tax refund check-off for a contribution to the Alabama state parks, Alabama
Department of Mental Health, or the Alabama Medicaid Agency. A BILL TO BE ENTITLED AN ACT
To amend Section 40-18-140, Code of Alabama 1975, as amended by Acts 2015-443 and 2015-447
of the 2015 Regular Session, to provide an income tax refund check-off for a contribution
to the Alabama state parks, the Department of Mental Health, or the Alabama Medicaid Agency.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 40-18-140, Code of Alabama
1975, as amended by Acts 2015-443 and 2015-447 of the 2015 Regular Session, is...
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SB213
in exchange for shares or other units that are publicly traded and represent fractional undivided
beneficial interests in the trust's net assets but not to the extent that metal is transferred
to or from the investment trust in exchange for consideration other than such publicly traded
shares or other units. For purposes of this subdivision, the term metals includes, but is
not limited to, copper, aluminum, nickel, zinc, tin, lead, and other similar metals typically
used in commercial and industrial applications. "(48) For the period commencing
on October 1, 2012, and ending May 30, 2022, unless extended by joint resolution, the gross
receipts from the sale of parts, components, and systems that become a part of a fixed or
rotary wing military aircraft or certified transport category aircraft that undergoes conversion,
reconfiguration, or general maintenance so long as the address of the aircraft for FAA registration
is not in the state; provided, however, that this exemption shall...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB213.htm - 72K - Match Info - Similar pages
SB202
171463-1:n:08/17/2015:JET*/th LRS2015-2668 SB202 By Senators Coleman-Madison, Beasley, Singleton,
Pittman, Figures and Sanders RFD Finance and Taxation Education Rd 1 11-FEB-16 SYNOPSIS: Under
current law, each entity, subject to the Alabama corporate income tax, is required to file
a separate return and calculate the income tax on its separately accounted for taxable income,
regardless whether the entity is part of a larger business that consists of an affiliated
group of entities. This filing method allows large corporate taxpayers to take advantage of
tax planning options to shift income to other entities within the affiliated group located
in tax favorable states. Most large corporate businesses consist of a parent corporation and
a number of corporate subsidiaries. This bill would amend the corporate income tax law to
require the operations of all related entities, involved in a unitary business, file one corporate
income tax return on a combined basis, known as combined...
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HB462
175707-1:n:03/15/2016:LFO-HP*/bdl HB462 By Representative Martin RFD Ways and Means General
Fund Rd 1 22-MAR-16 SYNOPSIS: Under current law, all entities doing business or registered
to do business in Alabama, have an annual filing obligation for Business Privilege Tax. The
Business Privilege Tax is calculated based on an entitys net worth, apportioned to Alabama.
There is a minimum of $100 Business Privilege Tax imposed annually on all entities subject
to this tax. Currently, taxpayers have an annual maximum Business Privilege Tax due of $15,000.
In addition, under current law, the Business Privilege Tax due date for Financial Institutions
is March 15. The Alabama Excise Tax return filed by financial institutions is due April 15.
Taxpayers often need to extend the filing date of the Business Privilege Tax in order to have
complete information not available until the Financial Institution Excise Tax return is completed.
In addition, this bill ensures that all other entity types have...
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