™Your Policy Risk Impact Agent
23 chapters · 608 sections in this title.
Ala. Code § 37-11C-1 Short Title
0.1K chars
This chapter shall be known and may be cited as The Railroad Modernization Act of 2019. (Act 2019-459, §1.)
Ala. Code § 37-11C-2 Definitions
1.7K chars
As used in this chapter, the following words shall have the following meanings: (1) CLASS II RAILROAD. A carrier classified as a Class II railroad pursuant to 49 CFR § 1201, or other rule adopted by the United States Surface Transportation Board. (2) CLASS III RAILROAD. A carrier…
Ala. Code § 37-11C-3 Standards for Approval of Qualified Railroad Rehabilitation Expenditures; Application for Tax Credits; Completion of Project; Tax Credit Certificate; Fees; Annual Report
5.3K chars
(a) By December 1, 2019, the Department of Commerce shall develop standards for the approval of qualified railroad rehabilitation expenditures for which a tax credit is being sought. The standards shall consider the availability of additional public or private funding for the pro…
Ala. Code § 37-11C-4 Allowance and Claim of Tax Credits; Railroad Rehabilitation Income Tax Credit Account; Written Transfer Agreements
5.9K chars
(a) For tax years beginning after December 31, 2019, through December 31, 2022, there is a credit allowed against the state income tax levied by Section 40-18-2 equal to 50 percent of an eligible taxpayer’s qualified railroad rehabilitation expenditures. The tax credit allowed un…