SB271 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Economic Development, tax incentives for certain qualifying projects developing or expanding in state, job creation, retention component, Alabama Development Office and Finance Director to recommend to Governor to approve the project, Alabama Job Creation and Retention Act
Description
This bill would make Legislative findings regarding the use of economic incentives provided to companies that undertake projects in the state that create and retain jobs. This bill would allow the State of Alabama to conduct public revenue estimates and subsequently allow new and existing companies which undertake certain qualifying projects in Alabama to retain a percentage of state income taxes withheld from eligible employees.
To provide legislative findings; to provide definitions; to allow Alabama companies which undertake certain qualifying projects to retain a percentage of state income taxes withheld from eligible employees.
Subjects
Economic Development
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 9, 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 | SB271 Alabama 2012 Session - Introduced |
Source: Alabama Legislature