Once the department has certified a cumulative amount of qualified equity investments that can result in the utilization of twenty million dollars ($20,000,000) of tax credits in any tax year, the department may not certify any more qualified equity investments under Section 41-9-219.3. This limitation shall be based on the scheduled utilization of tax credits without regard to the potential for taxpayers to carry forward tax credits to later tax years.
Structure Code of Alabama
Chapter 9 - Boards and Commissions.
Article 8C - Alabama New Markets Development Act.
Section 41-9-216 - Applicability of Article.
Section 41-9-217 - Short Title.
Section 41-9-218 - Definitions.
Section 41-9-219 - Tax Credit for Qualified Equity Investment.
Section 41-9-219.1 - Allocation of Tax Credits.
Section 41-9-219.2 - Limitation on Certifications.
Section 41-9-219.3 - Application for Designation as a Qualified Equity Investment.
Section 41-9-219.4 - Recapture of Tax Credit; Notice