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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 291

SB 291

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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
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
April 16, 2019 S Read for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Text

Download SB 291 PDF

Bill Documents

Type Link
Bill Text SB 291 - Introduced

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