SB463 Alabama 2012 Session

Updated Feb 27, 2026

Notable

Summary

Primary Sponsor: Cam Ward
Republican
Co-Sponsors: J.T. Waggoner Ben H. Brooks Clay Scofield Gerald O. Dial Mark Slade Blackwell
Session: Regular Session 2012
Title: Alabama Tourism Attraction Incentive Act, established, tax incentive and capital credits authorized for certain tourism attractions, Secs. 40-9B-3, 40-18-190, 40-18-193 am'd
Summary: SB463 would let local governments abate taxes for private tourism destination attractions and allow these attractions to receive state capital credits to encourage development.
What This Bill Does
It adds tourism destination attractions to the list of activities considered industrial or research enterprises for tax purposes. It authorizes abatements of ad valorem taxes and construction-related transaction taxes for private users of such attractions for up to 10 years, with abatements effective for statements of intent filed after December 31, 2011. It also makes tourism destination attractions eligible for capital credits—up to 5% of capital costs per year for 20 years against state income tax or financial institution excise tax—subject to wage and employment requirements and other program rules, while excluding gaming facilities.

Who It Affects
Private developers/investors of tourism destination attractions in Alabama, who could receive ad valorem and construction-related tax abatements and qualifying capital credits if they meet program requirements.
Municipalities, counties, and public industrial authorities, which would have the authority to grant abatements to private users of tourism destination attractions.

Key Provisions
Tourism destination attractions are added to the definition of industrial or research enterprises, enabling them to qualify for tax incentives.
Abatement of ad valorem taxes and construction-related transaction taxes for private users of tourism destination attractions is authorized for up to 10 years, with effective dates tied to statements of intent filed after December 31, 2011 (no abatements before 2012).
Tourism destination attractions become eligible for capital credits, up to 5% of capital costs annually for 20 years, against state income tax or financial institution excise tax, subject to compliance with wage and employment requirements and other rules.
A tourism destination attraction must meet specific criteria (open to the public at least 120 days/year and not primarily retail/ Gaming facilities excluded) and is governed by related definitions and conditions in the bill.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Alabama Tourism Attraction Incentive Act