SB186 Alabama 2019 Session

Summary

Primary Sponsor

Bobby D. Singleton Senator

Democrat

Session

Regular Session 2019

Title

Railroads, Class II or Class III, corporate income tax credit for railroad reconstruction and replacements expenditures, transfer to taxpayers subject to corporate or indiv. income tax

Description

This bill would provide a corporate income tax credit for up to 50 percent of qualified railroad reconstruction and replacement expenditures by a Class II or Class III railroad.

The amount of the credit would be based on a dollar figure times the number of miles of railroad track owned or leased in the state by an eligible railroad. The income tax credit would be eligible to be transferred by written agreement to a taxpayer subject to state corporate or individual income tax. The bill would be retroactive to the tax year beginning January 1, 2019.

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Subjects

Railroads