Under existing law, a state income tax credit is provided under certain conditions for qualified rehabilitation expenditures for the substantial rehabilitation of certified historic structures. The Alabama Historical Committee administers the tax credit program and approves rehabilitation of qualified structures that qualify for the income tax credit. The aggregate amount of all tax credits is limited for the tax years 2018 through 2022. A portion of the tax credits are reserved to taxpayers with a certified rehabilitation project located in a county with a population that does not exceed 175,000 according to the 2010 decennial census.
This bill would extend the tax credits for qualified rehabilitation expenditures for the substantial rehabilitation of certified historic structures through 2029. The bill would also specify that tax credits reserved to taxpayers with a certified rehabilitation project located in a county with a population that does not exceed 175,000 would be based on the most recent federal decennial census.
Delivered to Governor at 2:22 p.m. on May 6, 2021.
Assigned Act No. 2021-431.
Clerk of the House Certification
Enrolled
Signature Requested
Concurred in Second House Amendment
Gaston motion to Concur In and Adopt adopted Roll Call 1124
Concurrence Requested
Motion to Read a Third Time and Pass adopted Roll Call 1312
Chambliss motion to Adopt adopted Roll Call 1311
Chambliss Amendment Offered
Third Reading Passed
Waggoner motion to Carry Over to the Call of the Chair adopted Voice Vote
Waggoner motion to Adopt adopted Roll Call 1221
Waggoner Amendment Offered
Waggoner motion to Table adopted Voice Vote
Finance and Taxation Education Amendment Offered
Third Reading Carried Over to Call of the Chair
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the Senate committee on Finance and Taxation Education
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 218
Motion to Adopt adopted Roll Call 217
Ways and Means Education Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
Source: Alabama Legislature