Alabama § 40-14B-16 - Vested Premium Tax Credit - Amounts Allowed.
Full text of Alabama Code of Alabama § 40-14B-16 — Vested Premium Tax Credit - Amounts Allowed., with citation guidance and answers to common questions.
§ 40-14B-16. Vested Premium Tax Credit - Amounts Allowed.
(a) The total amount of certified capital for which premium tax credits may be allowed under this chapter for all years in which premium tax credits are allowed is one hundred million dollars ($100,000,000). Notwithstanding any provision of this chapter to the contrary, the granting of any credits against the insurance premium tax shall not affect the insurance premium tax receipts of the Education Trust Fund which is provided for in Act 93-679, 1993 Regular Session.
(b) No premium tax credits can be used until the second calendar year after the year of the investment by the certified investor.
(c) A certified investor may take up to 12.5 percent of the vested premium tax credit in any taxable year of the certified investor, once the credits are earned, except for the initial delay of this chapter.
(d) A certified capital company and its affiliates may not file premium tax credit allocation claims in excess of the maximum amount of certified capital for which premium tax credits may be allowed as provided in this chapter.
(e) The maximum amount of premium tax credit allocation claims that may be filed on behalf of any one insurance company, on an aggregate basis with its affiliates, in one or more certified capital companies, shall not exceed the greater of: Ten million dollars, or 15 percent of the aggregate limitation on credits provided in subsection (a).
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-14B-16
What does Code of Alabama § 40-14B-16 cover?
Section 40-14B-16 ("Vested Premium Tax Credit - Amounts Allowed.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 40-14B-16?
A common citation format is "Code of Alabama § 40-14B-16" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 40-14B-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.