SB45 Alabama 2022 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2022
Title
Income tax, historic structures, qualified rehabilitation, tax credits extended to 2027, residential structures disqualified, admin. by Historical Commission, Sec. 40-9F-36 am'd.
Description
<p class="bill_description"> 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</p><p class="bill_description">
This bill would provide that a tax
allocation reservation granted to certain taxpayers
with a certified rehabilitation project shall not
be excluded from receiving tax credits already
reserved prior to the enactment of Act 2021-431</p><p class="bill_entitled_an_act"> Relating to the state income tax credit for the
rehabilitation of qualified historic structures; to amend
Section 40-9F-36 of the Code of Alabama 1975, as amended by
Act 2021-431, 2021 Regular Session to provide that tax
allocation reservations granted to taxpayers for a certified
historic residential structure shall not be excluded from
receiving tax allocation reservations granted prior to
enactment of Act 2021-431; and to provide for retroactive
effect.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 11, 2022 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB45 Alabama 2022 Session - Introduced |