HB518 Alabama 2022 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2022
Title
Economic development, to create a small business micro-loan program, to establish a micro-loan tax credit for the benefit of the micro-loan program, Secs. 41-10-840 to 41-10-843, inclusive, added.
Description
Under existing law, there is no provision for a program funded by the tax credits that provides micro-loans to eligible small businesses
This bill would create a small business micro-loan program to provide micro-loans to eligible small businesses in Alabama and provide for micro-loan tax credits to fund the Alabama Small Business Micro-Loan Program
Relating to economic development to add Article 22, commencing with Section 41-10-840, to Chapter 10 of Title 41, Code of Alabama 1975; to create a small business micro-loan program to provide micro-loans to eligible small businesses; and to establish a micro-loan tax credit for the benefit of the small business micro-loan program.
Subjects
Economic Development
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 17, 2022 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB518 Alabama 2022 Session - Introduced |