SB238 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Economic Development, certain developed companies, Alabama Development Office may exempt certain applicant receiving Small Business Innovative Research grant from certain qualifications, Sec. 40-14B-3 am'd
Description
<p class="bill_description"> Under existing law, the Alabama Development
Office may approve certain companies that develop
or expand in the state as a certified capital
company making the company eligible to receive
certain tax credits. Under existing law, an
applicant for certification must have an equity
capitalization of at least five hundred thousand
dollars ($500,000) cash and must meet other
requirements in order to qualify</p><p class="bill_description">
This bill would authorize the Director of
the Alabama Development Office to waive the
equality capitalization requirement and any other
requirement to be a certified capital company if
the applicant has received a Small Business
Innovative Research grant within 12 months of the
date the application is filed</p><p class="bill_entitled_an_act"> To amend Section 40-14B-3, Code of Alabama 1975, to
authorize the Director of the Alabama Development Office to
waive certain requirements to be certified as a certified
capital company for applicants that received a Small Business
Innovative Research grant within a certain time of filing the
application.
</p>
Subjects
Economic Development
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Indefinitely Postponed | |
| February 28, 2012 | Sanford to Carry Over to the Call of the Chair granted | |
| February 28, 2012 | Third Reading Carried Over to Call of the Chair | |
| February 14, 2012 | Read for the second time and placed on the calendar | |
| February 8, 2012 | Read for the first time and referred to the Senate committee on Job Creation and Economic Development |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB238 Alabama 2012 Session - Introduced |