State and Local Tax (SALT) attorney Jimmy Long was quoted in Tax Notes regarding Alabama’s historical tax credit extension. The state’s tax credit for historical renovation projects is set to expire in May 2016, and lawmakers have yet to agree to an extension or on the program’s effectiveness.
“The Alabama historic tax credit has provided a critical source of capital for commercial and mixed-use development projects, particularly in downtown Birmingham and Mobile,” explained Long. Several projects currently in the predevelopment stage would likely not be able to move forward unless the Legislature extends the program, he added.
The complete article, “Alabama Senate Leader Refuses to ‘Rubber Stamp’ Historical Tax Credit Extension,” first appeared in Tax Notes on April 27, 2016. (login required)