HB34 Alabama 2016 Session

Sponsors

Session

Regular Session 2016

Title

Alabama Renewal Act, certain tax credits for the state's port facilities and other tax credits, authorized, Secs. 40-18-400 to 40-18-403, inclusive, 40-18-410 to 40-18-416, inclusive, added

Description

<p class="bill_description"> This bill would establish the Alabama Renewal Act to create a number of new programs for the growth of Alabama as a place to do business</p><p class="bill_description"> The bill would create a tax credit for increased use of the state's port facilities</p><p class="bill_description"> The bill would also create the Growing Alabama Act tax credit to address economic development needs in Alabama</p><p class="bill_entitled_an_act"> To create the Alabama Renewal Act; to add Articles nd 19 to Chapter 18, Title 40, of the Code of Alabama 1975, commencing with Sections 40-18-400 and 40-18-410, respectively; to create new programs for the growth of business and industry in Alabama; to create tax credits for increased use of the state's port facilities; to create the Growing Alabama Act tax credit to address economic development needs in Alabama; to cap the credits; to provide for the carryforward of certain earned but unused credits; to provide methods for claiming certain credits; to provide for proof that credits are due to be granted; to provide for the promulgation of forms; and to provide rulemaking authority. </p>

Subjects

Taxation