Bama Politics
  • Home
  • Alabama News
    • Alabama Economic News
    • Alabama Education News
    • Alabama Election News
    • Alabama Healthcare News
    • Alabama Legislation News
    • Alabama Local News
    • Alabama Opinion Editorials
  • Elections & Results
    • 2022 Alabama Elections & Results
    • 2021 Alabama Elections & Results
    • 2020 Alabama Elections & Results
    • 2019 Alabama Elections & Results
    • 2018 Alabama Elections & Results
    • 2017 Alabama Elections & Results
    • 2016 Alabama Elections & Results
    • 2015 Alabama Elections & Results
    • 2014 Alabama Elections & Results
    • 2013 Alabama Elections & Results
    • 2012 Alabama Elections & Results
    • 2010 Alabama Elections & Results
  • Officials
    • Statewide
    • US Representatives
    • State Senators
    • State Representatives
    • Alabama Sheriffs
    • All Profiles
  • Bills
    • 2021 Alabama Senate Bills
    • 2021 Alabama House Bills
    • All Bills
  • Places
    • Alabama Counties
    • Alabama Cities & Towns
    • Alabama Districts
  • Contact
    • General Contact
    • Opinion Articles
    • Corrections
  • About
Hey stranger! Create a free account today to follow bills, elected officials and candidates. Get an email as soon as updates happen!
Facebook icon Twitter icon Login Sign Up
  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2021 Alabama Legislative Regular Session
  5. 2021 Alabama Senate Bills
  6. SB274 Alabama 2021 Session

SB274 Alabama 2021 Session

Login or Sign Up to follow this page. It's free!
Passed (Not Signed)
Contents hide
  • 1 Bill Summary
  • 2 Bill Actions
  • 3 Bill Calendar
  • 4 Bill Text
  • 5 Bill Votes
  • 6 Bill Documents

Bill Summary

Sponsors
  • Bobby D. Singleton
  • Greg Albritton
  • Gerald H. Allen
  • Will Barfoot
  • William “Bill” M. Beasley
  • Tom Butler
  • Clyde Chambliss
  • Donnie Chesteen
  • Linda Coleman-Madison
  • Chris Elliott
  • Vivian Davis Figures
  • Sam Givhan
  • Garlan Gudger
  • Jimmy Holley
  • Andrew Jones
  • Steve Livingston
  • Del Marsh
  • Jim McClendon
  • Tim Melson
  • Arthur Orr
  • Randy Price
  • Greg J. Reed
  • Dan Roberts
  • Clay Scofield
  • Rodger Smitherman
  • Larry Stutts
  • J.T. Waggoner
  • Tom Whatley
  • Jack W. Williams
Session
Regular Session 2021
Title
Covid-19 Recovery Capital Credit Protection Act of 2021, created, employment and wage requirements for qualifying projects extended, compensation amounts for exemption purposes increased, Sec. 40-18-19.1 am'd.
Description

Under the capital credit program, an annual credit of a percentage of the capital costs of a qualifying project can be applied to an Alabama income tax or financial institution excise tax liability of an investing company. A qualifying project must meet specific employment and wage requirements after the project is placed into service for the capital credit to be available

This bill establishes the COVID-19 Recovery Capital Credit Protection Act of 2021. The bill provides an extension to the employment and wage requirements for a qualifying project placed into service during 2019, 2020, and 2021

The bill provides that the failure to meet the annual employment and wage requirements during the 2020 and 2021 tax years will not be considered in determining whether a project will be disqualified from the program. The bill provides that forfeiture penalties will not apply for qualifying projects failing to meet those requirements

Under current law, an amount up to twenty-five thousand dollars received as severance, unemployment compensation or termination pay, or as income from a supplemental income plan, by an employee who is terminated, laid-off, fired, or displaced from his or her employment, is exempt from income tax

This bill provides an increase in the exemption amount received as severance, unemployment compensation or termination pay, or as income from a supplemental income plan for tax years beginning after December 31, 2019

To establish the COVID-19 Recovery Capital Credit Protection Act of 2021; to amend Section 40-18-19.1, Code of Alabama 1975; to increase the amount of various types of compensation that may be exempted; and to provide an extension to the employment and wage requirements of the capital credit program and associated penalties.

Subjects
Revenue Department

Bill Actions

Action Date Chamber Action
April 13, 2021 S Delivered to Governor at 2:47 p.m. on April 13, 2021
April 13, 2021 S Enrolled
April 13, 2021 H Signature Requested
April 13, 2021 S Passed Second House
April 8, 2021 H Motion to Read a Third Time and Pass adopted Roll Call 708
April 8, 2021 H Third Reading Passed
April 1, 2021 H Read for the second time and placed on the calendar
March 16, 2021 H Read for the first time and referred to the House of Representatives committee on Ways and Means Education
March 16, 2021 S Engrossed
March 16, 2021 S Motion to Read a Third Time and Pass adopted Roll Call 604
March 16, 2021 S Singleton motion to Adopt adopted Roll Call 603
March 16, 2021 S Finance and Taxation Education Amendment Offered
March 16, 2021 S Third Reading Passed
March 11, 2021 S Read for the second time and placed on the calendar 1 amendment
February 25, 2021 S Read for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Calendar

Type Date Location Description
Hearing March 31, 2021 Room 200 at 09:00 House W&ME Hearing
Hearing March 10, 2021 ROOM 825 **BILL ADDED** at 09:30 Senate F&TE Hearing

Bill Text

Download SB274 Alabama 2021 Session PDF

Bill Votes

Motion to Read a Third Time and Pass Roll Call 708
2021-04-08
Chamber: House
Result: Passed
HBIR: Motion to Adopt Roll Call 707
2021-04-08
Chamber: House
Result: Passed
Motion to Read a Third Time and Pass Roll Call 604
2021-03-16
Chamber: Senate
Result: Passed
Singleton motion to Adopt Roll Call 603
2021-03-16
Chamber: Senate
Result: Passed
SBIR: Singleton motion to Adopt Roll Call 602
2021-03-16
Chamber: Senate
Result: Passed

Bill Documents

Type Link
Bill Text SB274 Alabama 2021 Session - Enrolled
Bill Text SB274 Alabama 2021 Session - Engrossed
Bill Text SB274 Alabama 2021 Session - Introduced
Bill Amendments Senate Finance and Taxation Education first Amendment Offered
Fiscal Note Fiscal Note - SB274 for Finance and Taxation Education
Fiscal Note Fiscal Note - SB274 for Finance and Taxation Education
Fiscal Note Fiscal Note - SB274 for Ways and Means Education
  • ReCAPTCHA Privacy Policy
  • ReCAPTCHA Terms
© 2021 Copyright: Bama Politics
Privacy Policy
Top