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SB 313

Income taxes, state income tax credit for qualified rehabilitation expenses of certified historic properties extended, annual credit amount increased

2026 Regular Session Introduced by Bobby Singleton

Alabama extends historic property rehabilitation tax credits and increases annual credit amounts to incentivize preservation of certified historic buildings.

Read for the first time and referred to the Senate Committee on Finance and Taxation Education
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Bill Summary · SB 313

Legislative bill overview

SB 313 extends Alabama's state income tax credit for property owners who rehabilitate certified historic properties and increases the annual credit amount available. The bill modifies existing tax incentive provisions to make the historic preservation credit more generous and longer-lasting for eligible taxpayers.

Why is this important

Historic preservation tax credits incentivize rehabilitation of older buildings, which can revitalize downtown areas, preserve architectural heritage, and create construction jobs. However, these credits represent foregone state tax revenue, so their cost-effectiveness and distribution across communities directly affects the state budget and economic development priorities.

Potential points of contention

  • Fiscal impact unclear: The bill's increased credit amounts and extended timeline will reduce state tax collections, but the fiscal note doesn't specify the estimated revenue loss or which communities benefit most
  • Equity concerns: Tax credits primarily benefit property owners with sufficient tax liability to use them; low-income areas may see fewer historic preservation projects if owners cannot access the credits effectively
  • Competing priorities: In a state with education and infrastructure funding challenges, directing resources to historic property tax incentives versus other economic development strategies requires careful justification

Compiled from official sources — confirm details with the bill’s official record.

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