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
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
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.
|January 11, 2022||S||Read for the first time and referred to the Senate committee on Finance and Taxation Education|
|Bill Text||SB45 Alabama 2022 Session - Introduced|