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
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_description">
This bill would also allow the tax credits
to be transferred</p><p class="bill_entitled_an_act"> 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.
</p>
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 |