SB122 Alabama 2014 Session
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Bill Summary
Sponsors
Session
Regular Session 2014
Title
Taxation, limited state income tax credit for qualified research expenses under certain conditions
Description
Under existing law, there are no tax credits extended to business for qualified research expenses incurred within the state
This bill would provide a limited tax credit and refundable tax credit against state income taxes for qualified research expenses incurred by businesses, including pass-through entities, within the state parallel to the federal research and development tax credit, with an increased incentive if certain universities or research institutions participate
To provide for a new tax credit program for qualified research expenses within the state, with an increased incentive for research conducted by universities or certain research institutions within the state.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 20, 2014 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
| February 20, 2014 | S | Engrossed |
| February 20, 2014 | S | Motion to Read a Third Time and Pass adopted Roll Call 456 |
| February 20, 2014 | S | Orr motion to Adopt adopted Roll Call 455 |
| February 20, 2014 | S | Orr first Substitute Offered |
| February 20, 2014 | S | Orr motion to Table adopted Voice Vote |
| February 20, 2014 | S | Commerce, Transportation, and Utilities Amendment Offered |
| February 20, 2014 | S | Third Reading Passed |
| January 23, 2014 | S | Read for the second time and placed on the calendar 1 amendment |
| January 14, 2014 | S | Read for the first time and referred to the Senate committee on Commerce, Transportation, and Utilities |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB122 Alabama 2014 Session - Engrossed |
| Bill Text | SB122 Alabama 2014 Session - Introduced |