AL HB357 | 2023 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 20 2023 - 25% progression, died in committee
Action: 2023-04-20 - Introduced and Referred to House Ways and Means Education
Pending: House Ways and Means Education Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 20 2023 - 25% progression, died in committee
Action: 2023-04-20 - Introduced and Referred to House Ways and Means Education
Pending: House Ways and Means Education Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Relating to the state income tax; to establish the Alabama Workforce Housing Tax Credit Act; to create the Alabama Workforce Housing Tax Credit for qualified workforce housing projects; to define certain terms; to provide for minimum and maximum annual award amounts for qualified projects; to allow the tax credits to be claimed for 10 years against the income tax liability of a qualified taxpayer; to allow carryforward for earned but unused tax credits; to require a minimum of the annual award cycle cap be awarded for qualified projects located in areas designated as rural by the authority; and to require the Alabama Housing Finance Authority to implement and administer the provisions of this act.
Title
Relating to the state income tax; to establish the Alabama Workforce Housing Tax Credit Act; to create the Alabama Workforce Housing Tax Credit for qualified workforce housing projects; to define certain terms; to provide for minimum and maximum annual award amounts for qualified projects; to allow the tax credits to be claimed for 10 years against the income tax liability of a qualified taxpayer; to allow carryforward for earned but unused tax credits; to require a minimum of the annual award cycle cap be awarded for qualified projects located in areas designated as rural by the authority; and to require the Alabama Housing Finance Authority to implement and administer the provisions of this act.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-04-20 | House | Introduced and Referred to House Ways and Means Education |
| 2023-04-20 | House | Read First Time in House of Origin |
Subjects
Alabama State Sources
| Type | Source |
|---|---|
| Summary | https://alison.legislature.state.al.us/bill-search |
| Text | https://alison.legislature.state.al.us/files/pdf/SearchableInstruments/2023RS/HB357-int.pdf |
