SB402 Alabama 2011 Session

Summary

Primary Sponsor

Paul Sanford

Republican

Co-Sponsor

Mark Slade Blackwell

Session

Regular Session 2011

Title

Banks, income tax credit authorized for banks creating certain jobs, under certain conditions, Full Employment Act, Secs. 40-18-270, 40-18-271, 40-18-272 repealed; Act 2010-557, 2010 Reg. Sess. repealed

Description

Under existing law, the Reemployment Act of 2010 allows an income tax deduction for employers that hire unemployed persons.

This bill would repeal that act.

This bill would propose a tax credit for banks in Alabama that create jobs.

This bill would make legislative findings regarding the purpose of this act. Banks would receive an income tax credit equal to $1,000 per new job paying more than $10 per hour.

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Subjects

Business and Commerce