HB80 Alabama 2023 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2023
Title
Relating to the Insurance Premium Tax; to amend Section 27-4A-3, Code of Alabama 1975, to provide further for real property investments to qualify for the Alabama Real Property Investment Credit; and to make nonsubstantive, technical revisions to update the existing code language to current style.
Description
<p class="bill_description">
Under existing law, the Alabama Real Property
Investment Credit allows insurers a credit against the
insurance premium tax based on the value of real
property investments in the State of Alabama</p><p class="bill_description">This bill would require real property investments to be
occupied or otherwise in commercial use for a majority
of the taxable year to qualify for the Alabama Real
Property Investment Credit</p><p class="bill_description"> This bill would also make nonsubstantive,
technical revisions to update the existing code
language to current style</p><p class="bill_entitled_an_act"> Relating to the Insurance Premium Tax; to amend Section
27-4A-3, Code of Alabama 1975, to provide further for real
property investments to qualify for the Alabama Real Property
Investment Credit; and to make nonsubstantive, technical
revisions to update the existing code language to current
style.
</p>
Subjects
Insurance Premium Tax, Amended Real Property Investment Credit
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 7, 2023 | H | Read First Time in House of Origin |
| March 7, 2023 | H | Introduced and Referred to House Ways and Means General Fund |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB80 Alabama 2023 Session - Introduced |