HJR119 Alabama 2010 Session

Summary

Primary Sponsor

James O. Gordon

Democrat

Co-Sponsors

Jim BartonJamie IsonSteve McMillanAlan BakerChad FincherJoe FaustHarry ShiverVictor GastonRandy DavisJames E. BuskeyYvonne KennedySpencer Collier

Session

Regular Session 2010

Title

Income tax, capital credit authorized by Article 9, Chapter 18, Title 40, Code of Alabama 1975, for certain qualified projects at Alabama Port Authority, continued until December 31, 2015

Summary

The bill extends the Alabama port-related income tax credits for qualified projects for five more years, through 2015.

What This Bill Does

It continues the capital credits under the Alabama Income Tax Credit Act for qualifying Port Authority projects. It extends the credits’ expiration date from December 31, 2010 to December 31, 2015. To qualify, a project must involve an investing company with at least $8 million in capital cost and be primarily industrial, warehousing, or research. The extension is authorized by a joint resolution of both houses and uses the existing tax credit framework (Sections 40-18-240 to 40-18-250).

Who It Affects

• Investment companies that invest in qualifying Port Authority projects, who could receive state tax credits.
• The Alabama Port Authority and developers/owners of qualifying projects, who can continue to attract investment due to the extended credits.

Key Provisions

• Continues the capital credits available under Article 9, Chapter 18, Title 40, of the Code of Alabama 1975 for Port Authority projects.
• Extends the credits from December 31, 2010 to December 31, 2015.
• Qualifying projects require at least $8,000,000 in capital cost and must have industrial, warehousing, or research as the predominant activity.
• Extension is authorized by a joint resolution of both houses, under the existing Sections 40-18-240 through 40-18-250.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions, Legislative