HB457 Alabama 2019 Session

Updated Apr 26, 2021

Summary

Primary Sponsor: Rod Scott
Democrat
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.
Subjects: Taxation