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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2019 Alabama Legislative Regular Session
  5. 2019 Alabama Senate Bills
  6. SB 186

SB 186

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

Bill Summary

Sponsors
  • Bobby D. Singleton
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

Relating to railroad infrastructure; to authorize a corporate income tax credit for eligible taxpayer for qualified railroad reconstruction and replacement expenditures by certain railroads; to provide for the transfer of the credits under certain conditions to eligible taxpayers subject to corporate or individual income tax; to provide for the carryover of the tax credit; and to provide for retroactive effect to January 1, 2019.

Subjects
Railroads

Bill Actions

Action Date Chamber Action
April 4, 2019 S Rereferred to Committee on Finance and Taxation Education
April 2, 2019 S Read for the first time and referred to the Senate committee on Finance and Taxation General Fund

Bill Text

Download SB 186 PDF

Bill Documents

Type Link
Bill Text SB 186 - Introduced

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