SB204 Alabama 2013 Session
Bill Summary
Current law provides for an expense allowance to Alabama taxpayers under Section 179 of the Internal Revenue Code for irrigation and provides for an income tax credit of 20% of the cost of the purchase and installation of certain conversion costs related to irrigation systems or the development of irrigation reservoirs and water wells
This bill would change the annual flow rate of rivers or streams, excepted from the qualified reservoir requirement, from 10,000 cubic feet per second to 8,000 cubic fee per second
This bill would allow the tax credit to be carried to each of the 5 years following the taxable year the qualified irrigation system or reservoir is placed in service
This bill would allow shareholders of certain business entities to receive a pro rata share of the credit claimed by the business entity
To amend Section 40-18-342 of the Code of Alabama 1975, relating to tax credit for the purchase and installation of certain irrigation systems; to provide for changes to the annual flow rate of rivers or streams excepted from the qualified reservoir requirement; to allow the tax credit to be carried forward 5 years; and to allow shareholders a pro rata share of the credit claimed by certain business entities.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 12, 2013 | H | Assigned Act No. 2013-66. |
| March 12, 2013 | H | Signature Requested |
| March 12, 2013 | S | Passed Second House |
| March 12, 2013 | H | Motion to Read a Third Time and Pass adopted Roll Call 197 |
| March 12, 2013 | H | Third Reading Passed |
| March 7, 2013 | H | Read for the second time and placed on the calendar |
| February 28, 2013 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
| February 26, 2013 | S | Engrossed |
| February 26, 2013 | S | Motion to Read a Third Time and Pass adopted Roll Call 154 |
| February 26, 2013 | S | Orr motion to Adopt adopted Roll Call 153 |
| February 26, 2013 | S | Finance and Taxation General Fund Amendment Offered |
| February 26, 2013 | S | Third Reading Passed |
| February 21, 2013 | S | Read for the second time and placed on the calendar 1 amendment |
| February 14, 2013 | S | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB204 Alabama 2013 Session - Engrossed |
| Bill Text | SB204 Alabama 2013 Session - Introduced |