Motion to Adopt
Yes
97
Absent
8
HB387 Alabama 2017 Session
Updated Jul 24, 2021
HB387 Alabama 2017 Session
House Bill
In Second Chamber
Current Status
Regular Session 2017
Session
1
Sponsor
Summary
- Primary Sponsor
-
Donnie Chesteen SenatorRepublican - Session
- Regular Session 2017
- Title
- Income tax, irrigation project tax credit, add'l credit authorized with cap, Sec. 40-18-342 am'd.
- Description
Under existing law, an agricultural trade or business is allowed an income tax credit of 20 percent of the cost not to exceed $10,000 of tax liability for the purchase and installation of irrigation equipment and for the conversion of irrigation equipment from fuel to electricity or for qualified reservoirs.
This bill would increase the amount of the income tax credit by authorizing an alternative income tax credit of 10 percent of the cost not to exceed $50,000 of tax liability. The bill would provide that the income tax credit authorized by this act would expire and be repealed effective December 31, 2022, unless extended by a joint resolution adopted by the Legislature.
- Subjects
- Taxation
Bill Actions
S
Read for the first time and referred to the Senate committee on Finance and Taxation Education
H
Engrossed
H
Motion to Read a Third Time and Pass adopted Roll Call 674
H
Holmes (A) motion to Adjourn lost Roll Call 673
H
Motion to Adopt adopted Roll Call 672
H
Chesteen Amendment Offered
H
Chesteen motion to Table adopted Roll Call 671
H
Ways and Means Education Amendment Offered
H
Third Reading Passed
H
Read for the second time and placed on the calendar 1 amendment
H
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
Bill Text
Votes
Chesteen motion to Table
Yes
93
Abstained
2
Absent
10
Motion to Read a Third Time and Pass
Yes
97
No
1
Absent
7
Holmes (A) motion to Adjourn
Yes
13
No
73
Abstained
2
Absent
17
Documents
Source: Alabama Legislature