SB404 Alabama 2014 Session

Summary

Primary Sponsor

J.T. Waggoner Senator

Republican

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.

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Subjects

Taxation