SB49 Alabama 2018 Session

Summary

Primary Sponsor

Trip Pittman

Republican

Session

Regular Session 2018

Title

Neighborhood Infrastructure Authorities, municipalities, assessments for neighborhood infrastructure revitalization projects, income tax credits, expiration date deleted, tax credits extended until 2022, Secs. 11-71-11, 11-71-12 am'd.

Summary

SB49 extends and updates the income tax credit program for Neighborhood Infrastructure Authorities through 2022 and clarifies rules for new and existing authorities.

What This Bill Does

It reinstates and extends the 10% income tax credit on assessments paid to Neighborhood Infrastructure Authorities, up to $1,000 per tax year for up to 10 years, now applicable through 2022. It creates eligibility for new credits from 2018 through 2022, in addition to credits that existed for 2012–2015. It requires new neighborhood infrastructure authorities to send incorporation and approval documents to the Department of Revenue, and it preserves existing authorities that were active by December 31, 2015 until all their projects are finished and they dissolve.

Who It Affects

• Homeowners and businesses assessed by Neighborhood Infrastructure Authorities; they may qualify for a 10% credit on the assessment, up to $1,000 per tax year, for up to 10 years, now extended through 2022.
• Municipalities and Neighborhood Infrastructure Authorities (both existing and new) and the Department of Revenue; new authorities must submit incorporation/approval documents and related information to Revenue, and existing authorities continue until their projects are completed.

Key Provisions

• Authorizes new income tax credits for assessments paid to Neighborhood Infrastructure Authorities through 2022, at 10% of the assessment up to $1,000 per tax year for up to 10 years.
• Remains or reestablishes credits for the 2012–2015 period at 10% of the assessment up to $1,000 per year for up to 10 years, and creates 2018–2022 eligibility for new credits.
• New authorities created after the act’s effective date must provide the Department of Revenue with articles of incorporation, municipality approval, and a list of authority members by December 31 of the year the authority is incorporated and approved.
• Existing neighborhood infrastructure authorities in existence as of December 31, 2015 continue to exist until all their projects are completed and the authority dissolves.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Neighborhood Infrastructure Authorities