HB328 Alabama 2012 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Taxation, income tax credit for purchase and installation of irrigation systems, water wells and reservoirs by agricultural entities
Description
<p class="bill_description"> Under existing law, Alabama income taxpayers
can elect to expense certain property in accordance
with Section 179 of the Internal Revenue Code. This
bill would allow certain taxpayers to expense
property under Section 179 as it existed on January
1, 2011</p><p class="bill_description">
Currently there are no incentives for
businesses in an agricultural trade or business to
develop solutions to combat the drought conditions
that have prevailed in recent years. This bill will
provide an income tax credit of up to $10,000 for
the purchase and installation of irrigation systems
and the building and development of water wells and
reservoirs by those business entities that engage
in agriculture</p><p class="bill_entitled_an_act"> To further provide for the expense allowance
provided to Alabama income taxpayers under Section 179 of the
Internal Revenue Code for irrigation equipment and to provide
for an income tax credit of up to $10,000 for the purchase and
installation of irrigation systems or the development of
irrigation reservoirs and water wells.
</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. 2012-391. | |
| May 9, 2012 | Clerk of the House Certification | |
| May 9, 2012 | Signature Requested | |
| May 9, 2012 | Concurred in Second House Amendment | |
| May 8, 2012 | Enrolled | |
| May 8, 2012 | Fincher motion to Concur In and Adopt adopted Roll Call 1361 | |
| May 8, 2012 | Concurrence Requested | |
| May 8, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 1172 | |
| May 8, 2012 | Singleton motion to Adopt adopted Roll Call 1171 | |
| May 8, 2012 | Singleton Amendment Offered | |
| May 8, 2012 | Scofield motion to Adopt adopted Roll Call 1170 | |
| May 8, 2012 | Finance and Taxation Education Amendment Offered | |
| May 8, 2012 | Third Reading Passed | |
| April 26, 2012 | Read for the second time and placed on the calendar 1 amendment | |
| April 17, 2012 | Read for the first time and referred to the Senate committee on Finance and Taxation Education | |
| April 12, 2012 | Engrossed | |
| April 12, 2012 | Cosponsors Added | |
| April 12, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 731 | |
| April 12, 2012 | Motion to Adopt adopted Roll Call 730 | |
| April 12, 2012 | Lee Amendment Offered | |
| April 12, 2012 | Motion to Adopt adopted Roll Call 729 | |
| April 12, 2012 | Ways and Means Education Amendment Offered | |
| April 12, 2012 | Third Reading Passed | |
| March 8, 2012 | Read for the second time and placed on the calendar 1 amendment | |
| February 14, 2012 | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB328 Alabama 2012 Session - Introduced |
| Bill Text | HB328 Alabama 2012 Session - Engrossed |
| Bill Text | HB328 Alabama 2012 Session - Enrolled |