SB238 Alabama 2012 Session
Summary
- Primary Sponsor
-
Paul SanfordRepublican - 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
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.
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.
- Subjects
- Economic Development
Bill Actions
Indefinitely Postponed
Sanford to Carry Over to the Call of the Chair granted
Third Reading Carried Over to Call of the Chair
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Job Creation and Economic Development
Bill Text
Documents
Source: Alabama Legislature