Code of Alabama - Title 40: Revenue and Taxation - Chapter 9F - Rehabilitation of Historic Structures

• Article 1
• Section 40-9F-1 Applicability
  This chapter shall apply to qualified structures throughout the State of Alabama.
• Section 40-9F-2 Definitions
  As used in this chapter, the following terms shall have the following meanings: (1) CERTIFIED HISTORIC STRUCTURE. A property located in Alabama which is certified...
• Section 40-9F-3 Standards for approval; application, rehabilitation plan; review; certification; tax credit certification; fees; report to Legislature
  (a) The commission shall develop standards for the approval of the substantial rehabilitation of qualified structures for which a tax credit is sought. The standards...
• Section 40-9F-4 Tax credits calculated, claimed, reserved, granted; transfer or assignment of tax credits
  (a) The state portion of any tax credit against the tax imposed by Chapters 16 and 18, for the taxable year in which the certified...
• Section 40-9F-5 Recapture of credits; assessment
  (a) Recapture of any of the credit shall apply against the taxpayer who utilizes the credit, and any required adjustments to basis due to recapture,...
• Section 40-9F-6 Appeals
  Owners or their duly authorized representatives may appeal any state official decision, including all preliminary or final reservations, approvals, and denials, made by the commission...
• Section 40-9F-7 Limitations
  The tax credits authorized by this chapter for the substantial rehabilitation of qualified structures shall not be available to owners of qualified structures that submit...
• Section 40-9F-8 Rules and regulations; timing of applications and credits
  The commission shall promulgate by September 1, 2013, any and all rules and regulations necessary to implement the provisions of this chapter. Applications for the...
• Article 2 Tax Credit For Historic Structures.
• Section 40-9F-30 Applicability
  This article shall apply to qualified structures throughout the State of Alabama.
• Section 40-9F-31 Definitions
  As used in this article, the following terms shall have the following meanings: (1) CERTIFIED HISTORIC STRUCTURE. A property located in Alabama which is at...
• Section 40-9F-32 Procedures for rehabilitation of qualified structures; tax credits; review; audit; fees; report to Legislature
  (a) The commission shall develop standards for the approval of the substantial rehabilitation of qualified structures for which a tax credit is sought. The standards...
• Section 40-9F-33 Limitations on tax credits; Historic Income Tax Credit Account; transfer or assignment of tax credits
  (a) The state portion of any tax credit against the tax imposed by Chapter 18 for the taxable year in which the certified rehabilitation is...
• Section 40-9F-34 Recapture of tax credits; assessment
  (a) Recapture of any of the credit shall apply against the taxpayer who utilizes the credit, and any required adjustments to basis due to recapture,...
• Section 40-9F-35 Appeals
  Owners or their duly authorized representatives may appeal any state official decision, including all preliminary or final reservations, approvals, and denials, made by the commission,...
• Section 40-9F-36 Availability of tax credits after December 31, 2022
  The tax credits authorized by this article for the substantial rehabilitation of qualified structures shall not be available to owners of qualified structures that submit...
• Section 40-9F-37 Rulemaking authority; acceptance of applications
  The commission shall promulgate by October 1, 2017, any and all rules and regulations necessary to implement this article. Applications for the reservation of tax...
• Section 40-9F-38 Historic Tax Credit Evaluating Committee
  (a) There is hereby established the Historic Tax Credit Evaluating Committee, which shall review qualifying projects, approve credits for projects, and rank projects in the...

Last modified: May 3, 2021