SB371 Alabama 2010 Session

This bill would provide for the Neighborhood Revitalization Act of 2010, to authorize the creation of Neighborhood Revitalization Authorities to manage and coordinate financing through member assessments for neighborhood revitalization projects. The bill would allow homeowners and businesses to voluntarily create revitalization authorities for revitalization projects in their respective neighborhoods. The bill would provide for an annual income tax credit over a period of 10 years for contributions made by members of an authority for the process of completing a neighborhood revitalizing project

To provide for the Neighborhood Revitalization Act of 2010; to allow homeowners and businesses to form neighborhood revitalization authorities to manage and finance local projects; to provide for the creation of such authorities and to provide tax credits for assessments made by individuals and business that participate in revitalization authority projects.