SB404 Alabama 2014 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2014
Title
Taxation, allow tax credits to transfer, awarded on a calendar year basis, Act 2013-241, 2013 Reg. Sess, am'd.; Secs. 40-9F-3, 40-9F-4, 40-9F-5 am'd.
Description
Under existing law, a tax credit is provided against the tax liability of the taxpayer for the rehabilitation, preservation, and development of historic structures
This bill would clarify that tax credits are awarded on a calendar year basis and to clarify the ability to change the ownership of the applicant
This bill would also allow the tax credits to be transferred
To amend Sections 3, 4, and 5 of Act 2013-241, 2013 Regular Session, now appearing as Sections 40-9F-3, 40-9F-4, and 40-9F-5, Code of Alabama 1975, to allow the tax credits to be transferred; to clarify that tax credits are awarded on a calendar year basis and to clarify the ability to change the ownership of an applicant.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 25, 2014 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB404 Alabama 2014 Session - Introduced |