HB599 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Taxation, carried forward period of five years for certain projects, Sec. 40-18-194 am'd.
Description
<p class="bill_description"> Under existing law, if a qualifying project
has capital costs of at least one hundred million
dollars and provides not less than one hundred jobs
for new employees, the capital credit may be
carried forward for a maximum of four taxable
years, depending on the amount of capital costs</p><p class="bill_description">
This bill would provide a carry forward
period of five years for projects exceeding fifty
million dollars in capital costs and fifty jobs for
new employees</p><p class="bill_entitled_an_act"> To amend Section 40-18-194, Code of Alabama 1975, as
further amended by Act 2012-385, 2012 Regular Session (Acts
2012 p. ____), relating to an income tax capital credit for
qualifying projects of new businesses and business expansions;
to provide a carry forward period of five years for projects
exceeding fifty million dollars in capital costs and fifty
jobs for new employees.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 7, 2013 | H | Indefinitely Postponed |
| April 18, 2013 | H | Read for the second time and placed on the calendar |
| April 10, 2013 | H | Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB599 Alabama 2013 Session - Introduced |