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
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
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.
|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||HB599 Alabama 2013 Session - Introduced|