SB238 Alabama 2012 Session
Bill Summary
Under existing law, the Alabama Development Office may approve certain companies that develop or expand in the state as a certified capital company making the company eligible to receive certain tax credits. Under existing law, an applicant for certification must have an equity capitalization of at least five hundred thousand dollars ($500,000) cash and must meet other requirements in order to qualify
This bill would authorize the Director of the Alabama Development Office to waive the equality capitalization requirement and any other requirement to be a certified capital company if the applicant has received a Small Business Innovative Research grant within 12 months of the date the application is filed
To amend Section 40-14B-3, Code of Alabama 1975, to authorize the Director of the Alabama Development Office to waive certain requirements to be certified as a certified capital company for applicants that received a Small Business Innovative Research grant within a certain time of filing the application.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Indefinitely Postponed | |
| February 28, 2012 | Sanford to Carry Over to the Call of the Chair granted | |
| February 28, 2012 | Third Reading Carried Over to Call of the Chair | |
| February 14, 2012 | Read for the second time and placed on the calendar | |
| February 8, 2012 | Read for the first time and referred to the Senate committee on Job Creation and Economic Development |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB238 Alabama 2012 Session - Introduced |