- Mike Millican
- Terri Collins
- Paul W. Lee
- April Weaver
- Barry Moore
- Ed Henry
- Becky Nordgren
- Donnie Chesteen
- Jim Patterson
- Kerry Rich
- K.L. Brown
- Greg Wren
- Lesley Vance
- Mac McCutcheon
- Victor Gaston
- Mike Ball
- Jack Williams
- Harry Shiver
- Chad Fincher
- Steve McMillan
- Randy Wood
- Steve Clouse
- Duwayne Bridges
- Howard Sanderford
- Micky Hammon
HB140 Alabama 2012 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Income tax credit for qualifying projects or new or expanding businesses creating new jobs, tax credits claimed authorized to be carried over up to four tax years, Sec. 40-18-194 am'd.
Description
<p class="bill_description"> Under existing law, certain new and
expanding businesses may qualify for an income tax
capital credit of up to five percent (5%) of the
capital costs of a qualifying project in each of
the 20 years, commencing with the year during which
the qualifying project is placed into service and
continuing for 19 consecutive years thereafter. Any
unused capital credit may not be carried forward to
another tax year</p><p class="bill_description">
This bill would allow for an extension of
the time period in which certain capital credits
may be claimed and will allow unused capital
credits for certain qualifying projects to be
carried forward</p><p class="bill_entitled_an_act"> To amend Section 40-18-194, Code of Alabama 1975,
relating to an income tax capital credit for qualifying
projects of new businesses and business expansions; to allow
for an extension of the time period in which certain capital
credits may be claimed and will also allow the credit to be
carried forward from one (1) to four (4) years depending upon
the amount of the capital costs of the project.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Delivered to Governor at 11:45 a. m. on May 9, 2012. | |
| May 9, 2012 | Assigned Act No. 2012-385. | |
| May 9, 2012 | Clerk of the House Certification | |
| May 9, 2012 | Signature Requested | |
| May 8, 2012 | Enrolled | |
| May 8, 2012 | Passed Second House | |
| May 8, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 1194 | |
| May 8, 2012 | Pending third reading on day 26 Favorable from Finance and Taxation General Fund | |
| May 3, 2012 | Read for the second time and placed on the calendar | |
| April 26, 2012 | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund | |
| April 24, 2012 | Engrossed | |
| April 24, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 940 | |
| April 24, 2012 | Third Reading Passed | |
| April 24, 2012 | Hammon motion to Carry Over Temporarily adopted Voice Vote | |
| April 24, 2012 | Motion to Adopt ED&T amendment adopted Roll Call 939 | |
| April 24, 2012 | Holmes motion to Adjourn lost Roll Call 938 | |
| April 24, 2012 | Economic Development and Tourism Amendment Offered | |
| April 24, 2012 | Third Reading Carried Over | |
| February 23, 2012 | Read for the second time and placed on the calendar 1 amendment | |
| February 7, 2012 | Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB140 Alabama 2012 Session - Introduced |
| Bill Text | HB140 Alabama 2012 Session - Engrossed |
| Bill Text | HB140 Alabama 2012 Session - Enrolled |