HB457 Alabama 2019 Session

In Committee

Bill Summary

Sponsors

Rod Scott

Session

Regular Session 2019

Title

Taxation, tax credits, Railroad Modernization Act, state income tax credit authorized for qualified railroad reconstruction or replacement expenditures

Description

This bill would allow a tax credit against the state income tax of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures, which includes the maintenance, reconstruction, or replacement of railroad infrastructure within the state that is owned or leased by the eligible taxpayer This bill would allow an eligible taxpayer who receives the tax credit to transfer the tax credit under certain conditions and would sunset the tax credit in five years Relating to tax credits; to create The Railroad Modernization Act of 2019; to authorize a tax credit against the state income tax of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures; and to authorize the transfer of the credit.

Subjects

Taxation

Bill Actions

Action Date	Chamber	Action
May 2, 2019	H	Pending third reading on day 16 Favorable from Ways and Means Education with 1 substitute and 1 amendment
May 2, 2019	H	Ways and Means Education first Amendment Offered
May 2, 2019	H	Ways and Means Education first Substitute Offered
May 2, 2019	H	Read for the second time and placed on the calendar with 1 substitute and 1 amendment
April 16, 2019	H	Read for the first time and referred to the House of Representatives committee on Ways and Means Education

Bill Calendar

Type	Date	Location	Description
Hearing	May 1, 2019	Room 200 at 09:00	House W&ME Hearing
Hearing	April 24, 2019	Room 200 at 09:00	House W&ME Hearing

Bill Text

Download HB457 Alabama 2019 Session PDF

Bill Documents

Type	Link
Bill Text	HB457 Alabama 2019 Session - Introduced
Bill Amendments	House Ways and Means Education first Substitute Offered
Bill Amendments	House Ways and Means Education first Amendment Offered