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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionAlabama
Jurisdiction type: State
Fiscal year ending In2021
Program nameNew Markets Tax Credit
Program purpose: Community development
Statutory authority: Code of Alabama 1975, Section 41-9-218
Abating jurisdiction(s): State of Alabama
Applicable taxesIncome Tax; Insurance Premium Tax; Financial Institutions Tax
Method of abatement: Tax Credit
Provisions for recapture: (not specified)
Gross revenue loss: $3,700,000
Reimbursement / offset: $0
Net revenue loss: $3,700,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://comptroller.alabama.gov/acfr-2/