HB109 Alabama 2020 Session

Summary

Primary Sponsor

Danny Garrett Representative

Republican

Session

Regular Session 2020

Title

Taxation, Alabama Innovation Act, tax credit for qualified research expenses, provided, Secs. 40-18-470 to 40-18-475, inclusive, added.

Description

This bill would establish the Alabama Research and Development Act that would provide for a research and development tax credit to certain Alabama companies. The credit would be based on in-house research, contracted research expenses conducted in Alabama, and consortium research expenses for qualified research conducted in Alabama.

This bill would limit the Alabama Research and Development tax credits to no more than $25 million of credits for research and development expenses in any calendar year; and no eligible company or business could claim more than 20 percent in a single tax year.

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Subjects

Taxation