HB466
Rep(s). By Representatives Williams (P), Greer and Ball HB466 ENGROSSED A BILL TO BE ENTITLED AN ACT Relating to individual retirement accounts administered by the Retirement Systems of Alabama; to amend Section 36-27A-5, Code of Alabama 1975, relating to contributions to individual retirement accounts, to require public employees first employed by a participating employer of the Teachers Retirement System, Employees Retirement System, or Judicial Retirement Fund on or after January 1, 2017 to make contributions to such individual retirement accounts through an automatic enrollment process, and to provide for opt-out provisions or enrollment in alternative retirement accounts offered by employers under certain conditions. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 36-27A-5, Code of Alabama 1975, is hereby amended to read as follows: §36-27A-5. "(a) The PEIRAF shall be available to all public employees in the State of Alabama who are members of the Teachers'...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB466.htm - 8K - Match Info - Similar pages
HB64
172478-2:n:12/07/2015:MCS/tj LRS2015-3194R1 HB64 By Representatives Greer, Fridy and Garrett RFD Ways and Means Education Rd 1 02-FEB-16 SYNOPSIS: Currently, income from defined contribution deferred compensation plans is taxable as state income. This bill would provide that the first 90 percent of such annual income is exempt. The exemption would be phased in over a five-year period. A BILL TO BE ENTITLED AN ACT To provide for the Alabama Fair Income Tax Act of 2016; to amend Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442, relating to exemptions from state income taxation; to provide for exemptions of certain percentages of annual income received as a benefit from defined contribution deferred compensation plans; and to provide for a period of five years to fully implement an exemption of 90 percent of such benefits. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. (a) This act shall be known as and may be cited as the Alabama Fair Income Tax Act of 2016....
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB64.htm - 11K - Match Info - Similar pages
HB90
173075-1:n:01/15/2016:JET/mfc LRS2016-145 HB90 By Representative Greer RFD Ways and Means Education Rd 1 03-FEB-16 SYNOPSIS: Currently, income from defined contribution deferred compensation plans is taxable as state income. This bill would provide that $50,000 of such annual income is exempt. The exemption would be phased in over a five-year period. A BILL TO BE ENTITLED AN ACT To amend Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442, relating to exemptions from state income taxation; to provide for exemptions of certain amounts of annual income received as a benefit from defined contribution deferred compensation plans; and to provide for a period of five years to fully implement the exemption. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442 of the 2015 Regular Session, is amended to read as follows: §40-18-19. "(a) The following exemptions from income taxation shall be allowed to every...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB90.htm - 11K - Match Info - Similar pages
SB283
174072-1:n:02/15/2016:KMS/th LRS2016-656 SB283 By Senators Whatley, Scofield, Shelnutt, Stutts, Hightower, Waggoner, Marsh, Sanford, Albritton, Pittman, McClendon, Williams, Melson and Livingston RFD Finance and Taxation Education Rd 1 23-FEB-16 SYNOPSIS: This bill would prohibit officers and employees of the Alabama Education Association, Alabama High School Athletic Association, Alabama Association of School Boards, Alabama Council for School Administration and Supervision, Alabama Vocational Association, Alabama Congress of Parents and Teachers, Alabama Opportunities Industrialization Center, Developing Alabama Youth Foundation, Tennessee Valley Rehabilitation Center, Inc., American Federation of Teachers, School Superintendents of Alabama, Alabama Higher Education Partnership, Inc., Alabama State Employees' Association, Alabama Retired State Employees' Association, State Employees' Credit Union, and certain community action agencies, hired on or after January 1, 2017, and any...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB283.htm - 56K - Match Info - Similar pages
HB63
171507-1:n:08/25/2015:MCS/agb LRS2015-2739 HB63 By Representative Greer RFD Ways and Means Education Rd 1 02-FEB-16 SYNOPSIS: Currently, income from defined contribution deferred compensation plans is taxable as income. This bill would provide that 90 percent of such income is exempt. A BILL TO BE ENTITLED AN ACT To amend Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442, relating to exemptions from state income taxation; to provide that 90 percent of income from defined contributions deferred compensation plans is exempt from income taxation. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442 of the 2015 Regular Session, is amended to read as follows: §40-18-19. "(a) The following exemptions from income taxation shall be allowed to every individual resident taxpayer: "(1) Retirement allowances, pensions and annuities, or optional allowances, approved by the Board of Control of the Teachers'...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB63.htm - 9K - Match Info - Similar pages
HB91
173074-1:n:01/15/2016:JET/mfc LRS2016-144 HB91 By Representative Greer RFD Ways and Means Education Rd 1 03-FEB-16 SYNOPSIS: Currently, income from defined contribution deferred compensation plans is taxable as income. This bill would provide that 90 percent of such income, up to $50,000, is exempt. A BILL TO BE ENTITLED AN ACT To amend Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442, relating to exemptions from state income taxation; to provide that 90 percent of income from defined contributions deferred compensation plans, up to a certain limit, is exempt from income taxation. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442 of the 2015 Regular Session, is amended to read as follows: §40-18-19. "(a) The following exemptions from income taxation shall be allowed to every individual resident taxpayer: "(1) Retirement allowances, pensions and annuities, or optional allowances, approved by the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB91.htm - 9K - Match Info - Similar pages
SB15
services to and on behalf of needy persons. b. a. Nine and nine one-hundredths percent shall be set apart and used for the following purposes only and in the following order: 1. So much thereof as may be necessary for such purpose is hereby appropriated and shall be used by the State Treasurer to pay at their respective maturities the principal and interest that will mature during the then current fiscal year on all bonds at the time outstanding that may have been issued by the State Industrial Development Authority under the provisions of the following acts: (i) Acts 1967, No. 231; (ii) Acts 1971, No. 1420; (iii) Acts 1973, No. 1039; (iv) Acts 1975, No. 1217; (v) Acts 1978, 2nd Ex. Sess., No. 99; (vi) Acts 1981, No. 81-843; (vii) Acts 1983, No. 83-925; and (viii) Acts 1987, No. 87-550. 2. The balance thereafter remaining during each fiscal year shall be paid into the State General Fund. a special fund in the State Treasury to be designated the "General and Mental Health Fund,"...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB15.htm - 81K - Match Info - Similar pages
HB473
174081-2:n:02/16/2016:LFO-SS*/bdl HB473 By Representatives McMillan, Davis, Faust, Hill (M), Sessions, Gaston, Beckman, Patterson and Shiver RFD Ways and Means Education Rd 1 23-MAR-16 SYNOPSIS: Under existing law, the annual apportioning of Foundation Program funds for education is determined by calculating the average number of students enrolled on a daily basis for the first 20 scholastic days following Labor Day of the preceding school year. This bill revises existing law to require that the annual apportioning of funds be determined by calculating the average number of students enrolled on a daily basis for the first 20 scholastic days following Labor Day of the preceding school year and then adding or subtracting the change in ADM of the two preceding school years. A BILL TO BE ENTITLED AN ACT To amend Sections 16-13-231 and 16-13-232, Code of Alabama 1975, relating to the Foundation Program; to provide that the annual apportioning of funds be determined by calculating the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB473.htm - 26K - Match Info - Similar pages
SB341
174081-2:n:02/16/2016:LFO-SS*/bdl SB341 By Senator Pittman RFD Finance and Taxation Education Rd 1 10-MAR-16 SYNOPSIS: Under existing law, the annual apportioning of Foundation Program funds for education is determined by calculating the average number of students enrolled on a daily basis for the first 20 scholastic days following Labor Day of the preceding school year. This bill revises existing law to require that the annual apportioning of funds be determined by calculating the average number of students enrolled on a daily basis for the first 20 scholastic days following Labor Day of the preceding school year and then adding or subtracting the change in ADM of the two preceding school years. A BILL TO BE ENTITLED AN ACT To amend Sections 16-13-231 and 16-13-232, Code of Alabama 1975, relating to the Foundation Program; to provide that the annual apportioning of funds be determined by calculating the average number of students enrolled on a daily basis for the first 20 scholastic...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB341.htm - 26K - Match Info - Similar pages
HB321
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 HB321 By Representatives Faust, Shiver, Sessions, Gaston, Baker, McMillan, Bracy, Buskey, Pringle, Williams (JW), Wilcox, Davis, Clarke, Drummond and Jackson RFD Insurance Rd 1 25-FEB-16 SYNOPSIS: Under existing law, all insurers authorized and writing property insurance in the State of Alabama are required to be members of the Alabama Insurance Underwriting Association, which was established to provide a method whereby essential property insurance coverage would be provided in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose of providing affordable windstorm insurance for owners of insurable property in any county contiguous to the Gulf of Mexico and Mobile Bay. This bill would provide for the selection of the board of directors of the authority. This bill would provide for the adoption of the plan of operation of the authority, including the process...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB321.htm - 38K - Match Info - Similar pages
|