Partnertax.ai
Start free trial →

Code of Alabama — Title 40 (Revenue and Taxation)

Ala. Code § 40-18-386

Reductions of Distribution for Education Trust Fund and General Fund

Official textalison.legislature.state.al.us

Notwithstanding the provisions of Section 40-18-376(d)(2), to the extent the investment credit is used to offset an insurance premium tax liability and a portion of the insurance premium taxes are deposited into the Education Trust Fund, the Department of Finance shall adopt rules to ensure that the credit would reduce the distribution for the Education Trust Fund. Thereafter, the credit will reduce the distributions to the state General Fund only.

Last amended: Act 2019-392, §11.

Source: view the official text

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this chapter (40 sections)
  1. 40-18-371 · Requirements for Receipt of Incentives
  2. 40-18-372 · Qualifying Projects - Activities and Standards. (Amended by…
  3. 40-18-373 · Approved Companies
  4. 40-18-374 · Claiming of Incentives; Project Agreement; Amounts and…
  5. 40-18-375 · Jobs Credit Against Utility Taxes; Realization of Benefits;…
  6. 40-18-376 · Investment Credit; Realization Methods; Rulemaking Authority
  7. 40-18-376.1 · Projects in Targeted or Jumpstart Counties
  8. 40-18-376.2 · Additional Jobs Credit for Employment of Veterans
  9. 40-18-376.3 · Qualifying Projects by Technology Companies
  10. 40-18-376.4 · Qualifying Projects by Underrepresented Companies
  11. 40-18-377 · Project Agreements Forwarded to Department of Revenue;…
  12. 40-18-378 · Verification of Employment Numbers; Audits; Return of…
  13. 40-18-379 · Joint Legislative Advisory Committee on Economic Incentives
  14. 40-18-379.1 · Publication of Certain Information Regarding Economic…
  15. 40-18-380 · Implementation of Article
  16. 40-18-381 · Construction of Article
  17. 40-18-382 · Continuation or Reinstatement of Incentives
  18. 40-18-383 · Maximum Balance of Outstanding Incentives; Availability of…
  19. 40-18-384 · Specific Industrial or Research Enterprises; Amounts and…
  20. 40-18-385 · Implementation and Administration of the Alabama Incentives…
  21. 40-18-386 · Reductions of Distribution for Education Trust Fund and…
  22. 40-18-387 · Applicability of the Enhancing Economic Progress Act to…
  23. 40-18-390 · Short Title
  24. 40-18-391 · Definitions
  25. 40-18-392 · (Tax Credit Expires January 1, 2019, Per Subsection (G)).…
  26. 40-18-393 · Rulemaking Authority
  27. 40-18-394 · Promotion of Tax Credits for Small Businesses and…
  28. 40-18-400 · Definitions
  29. 40-18-401 · Applications; Construction of Article
  30. 40-18-402 · Renewal of Alabama Commission
  31. 40-18-403 · Port Credits
  32. 40-18-410 · (Per Section 40-18-416, This Section Is Repealed Following…
  33. 40-18-411 · (Per Section 40-18-416, This Section Is Repealed Following…
  34. 40-18-412 · (Per Section 40-18-416, This Section Is Repealed Following…
  35. 40-18-413 · (Per Section 40-18-416, This Section Is Repealed Following…
  36. 40-18-414 · (Per Section 40-18-416, This Section Is Repealed Following…
  37. 40-18-415 · (Per Section 40-18-416, This Section Is Repealed Following…
  38. 40-18-416 · (Per Section 40-18-416, This Section Is Repealed Following…
  39. 40-18-417 · Short Title
  40. 40-18-417.1 · Definitions. (Amended by Act 2026-533)
Full table of contents →