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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2018 Alabama Legislative Regular Session
  5. 2018 Alabama Senate Bills
  6. SB 277

SB 277

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In Committee
Contents hide
  • 1 Bill Summary
  • 2 Bill Text
  • 3 Bill Actions
  • 4 Bill Documents

Bill Summary

Sponsors
  • Tom Whatley
Session
Regular Session 2018
Title
Taxation, income tax credit, created for businesses involved with construction relating to national border security
Description

Currently, Alabama provides income tax credits against taxpayers’ income tax liability

This bill provides for an income tax credit for businesses involved in construction relating to national border security

To create a new income tax credit for businesses involved in construction relating to national border security.

Subjects
Taxation

Bill Text

Note: Bills that change current law do not show the amended text correctly below. Please view Original PDF to see amended sections: SB 277 - Introduced - PDF

Currently, Alabama provides income tax credits against taxpayers’ income tax liability

This bill provides for an income tax credit for businesses involved in construction relating to national border security

To create a new income tax credit for businesses involved in construction relating to national border security.

Section 1

(a) For all tax years beginning after December 31, 2018, any taxpayer involved in construction relating to national border security shall be allowed a credit against income tax in an amount equal to ten percent of the construction costs relating to national border security borne by the taxpayer. (b) The credit provided by this act shall be taken in the year in which the cost of construction relating to national border security was incurred. (c) The tax credit may not be allowed to decrease the tax liability of a taxpayer to less than zero in any tax year. The credit is not refundable or transferable. (d) The Department of Revenue shall promulgate rules necessary to implement and administer the credit authorized by this act.

Section 2

This act shall become effective immediately upon its passage and approval by the Governor, or its otherwise becoming a law.

Bill Actions

Action Date Chamber Action
February 1, 2018 S Read for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Documents

Document Type Document Location
Bill Text http://alisondb.legislature.state.al.us/ALISON/SearchableInstruments/2018RS/PrintFiles/SB277-int.pdf

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