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HB107
204343-1:n:01/28/2020:LSA-JS/ccd HB107 By Representative Greer RFD Ways and Means Education
Rd 1 04-FEB-20 SYNOPSIS: Currently, distributions from defined contribution deferred compensation
plans are taxable as income. This bill would provide that 90 percent of those distributions,
up to $30,000, is exempt from income tax for individuals who are 65 years old or older. This
exemption will be phased in over a ten-year period. A BILL TO BE ENTITLED AN ACT To amend
Section 40-18-19, Code of Alabama 1975, relating to exemptions from state income taxation;
to provide that 90 percent of the distribution from a defined contribution deferred compensation
plan, up to $30,000, is exempt from state income tax for individuals who are 65 years old
or older; and to phase in the exemption over a ten-year period. BE IT ENACTED BY THE LEGISLATURE
OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama 1975, is amended to read as follows:
§40-18-19. "(a) The following exemptions from income taxation...
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HB108
204342-1:n:01/28/2020:LSA-JS/ccd HB108 By Representative Greer RFD Ways and Means Education
Rd 1 04-FEB-20 SYNOPSIS: Currently, distributions from defined contribution deferred compensation
plans are taxable as income. This bill would provide that 80 percent of those distributions,
up to $20,000, is exempt from income tax for individuals who are 65 years old or older. This
exemption will be phased in over a ten-year period. A BILL TO BE ENTITLED AN ACT To amend
Section 40-18-19, Code of Alabama 1975, relating to exemptions from state income taxation;
to provide that 80 percent of the distribution from a defined contribution deferred compensation
plan, up to $20,000, is exempt from state income tax for individuals who are 65 years old
or older; and to phase in the exemption over a ten-year period. BE IT ENACTED BY THE LEGISLATURE
OF ALABAMA:Section 1. Section 40-18-19, Code of Alabama 1975, is amended to read as follows:
§40-18-19. "(a) The following exemptions from income taxation...
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HB47
197055-1:n:02/14/2019:KMS/tgw LSA2019-240 HB47 By Representative McCampbell RFD Education Policy
Rd 1 04-FEB-20 SYNOPSIS: Under existing law, a public K-12 school or school district that
is determined to have poor performance is labeled by the State Superintendent of Education
as failing to make adequate progress or as a failing school under the school grading system.
Also under existing law, the Alabama Accountability Act of 2013, provides financial assistance
through an income tax credit to a parent who transfers a student from a failing public school
to a nonfailing public school or nonpublic school of the parent's choice. This bill would
change the designation of a failing school to a challenged school and the designation of a
nonfailing school to a nonchallenged school for the purposes of school grading and the Alabama
Accountability Act of 2013, and would require the State Board of Education to reflect those
changes in terminology when amending or adopting rules. A BILL TO BE...
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HB353
205816-1:n:02/27/2020:LSA-KF/jmb HB353 By Representative Garrett RFD Ways and Means Education
Rd 1 27-FEB-20 SYNOPSIS: Under existing law, financial institutions are taxed at a rate of
six and one-half percent of net income and allowed to deduct federal income taxes paid or
accrued during the taxpayers tax year. Under existing law, corporate income taxpayers are
taxed at a rate equal to six and one-half percent of taxable income and allowed to deduct
federal income taxes paid or accrued within the year. Under existing law, the apportionment
factor for most corporate income taxpayers is calculated using a three-factor apportionment
formula, with the sales factor double-weighted. The 2017 federal Tax Cuts and Jobs Act eliminated
or limited business deductions and created new classes of income for corporate income taxpayers.
Since Alabama is a rolling conformity state, Alabama automatically conforms to many of the
federal tax changes without new legislation. This bill would decrease the...
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SB250
205816-1:n:02/27/2020:LSA-KF/jmb SB250 By Senators Roberts and Marsh RFD Finance and Taxation
Education Rd 1 27-FEB-20 SYNOPSIS: Under existing law, financial institutions are taxed at
a rate of six and one-half percent of net income and allowed to deduct federal income taxes
paid or accrued during the taxpayers tax year. Under existing law, corporate income taxpayers
are taxed at a rate equal to six and one-half percent of taxable income and allowed to deduct
federal income taxes paid or accrued within the year. Under existing law, the apportionment
factor for most corporate income taxpayers is calculated using a three-factor apportionment
formula, with the sales factor double-weighted. The 2017 federal Tax Cuts and Jobs Act eliminated
or limited business deductions and created new classes of income for corporate income taxpayers.
Since Alabama is a rolling conformity state, Alabama automatically conforms to many of the
federal tax changes without new legislation. This bill would...
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HB122
203857-1:n:01/21/2020:PMG*/tj LSA2019-3160 HB122 By Representative Sorrell RFD Ways and Means
Education Rd 1 04-FEB-20 SYNOPSIS: This bill would exclude from gross income of individuals
the net capital gain derived from the exchange of precious metal bullion. This bill would
also include as a deduction of individuals from gross income the net capital loss derived
from the exchange of precious metal bullion. A BILL TO BE ENTITLED AN ACT Relating to state
income tax as for individuals; to amend Sections 40-18-14 and 40-18-15, Code of Alabama 1975;
to exclude net capital gains and losses derived from the exchange of precious metal bullion
from state income taxes. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. This act
shall be known and may be cited as the Sound Money Tax Neutrality Act.Section 2. Sections
40-18-14 and 40-18-15, Code of Alabama 1975, are amended to read as follows: §40-18-14. "The
term "gross income" as used herein: "(1) Includes gains, profits and income...
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HB109
203639-5:n:01/30/2020:LSA-JP*/jmb HB109 By Representatives Garrett, Sanderford, McMillan and
Scott RFD Ways and Means Education Rd 1 04-FEB-20 SYNOPSIS: This bill would establish the
Alabama Research and Development Act that would provide for a research and development tax
credit to certain Alabama companies. The credit would be based on in-house research, contracted
research expenses conducted in Alabama, and consortium research expenses for qualified research
conducted in Alabama. This bill would limit the Alabama Research and Development tax credits
to no more than $25 million of credits for research and development expenses in any calendar
year; and no eligible company or business could claim more than 20 percent in a single tax
year. A BILL TO BE ENTITLED AN ACT To enact the Alabama Research and Development Act; to allow
a research and development tax credit for qualified research expenses in Alabama; to provide
that no more than $20 million of tax credits for major research and...
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HB4
200313-1:n:04/30/2019:LFO-KF**/jmb HB4 By Representative Holmes RFD Fiscal Responsibility Rd
1 04-FEB-20 SYNOPSIS: This bill would repeal various state taxes and levy instead a comprehensive
consumption tax. A BILL TO BE ENTITLED AN ACT To repeal the following provisions of the Code
of Alabama 1975: Chapter 18 of Title 40, Sections 40-27-1.1, and 40-31-1-through 40-31-4,
regarding the income tax; Chapter 9F of Title 40, regarding the tax credits for rehabilitation
of historic structures; Chapter 16 of Title 40, regarding the financial institutions excise
tax; Chapter 14 of Title 40, regarding the corporation tax; Sections 40-14A-1 through 40-14A-2,
40-14A-21 through 40-14A-29, and 40-14A-41 through 40-14A-43, regarding the business privilege
tax; Chapter 23 of Title 40, regarding the sales and use and contractors gross receipts
taxes; Sections 40-15-1 through 40-15-19, regarding estate and gift tax; Sections 40-15A-1
through 40-15A-14, regarding the generation-skipping transfer tax;...
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HB78
Rep(s). By Representatives Ingram and Holmes HB78 ENROLLED, An Act, Relating to Elmore County;
to amend and renumber Sections 45-26-81.40 to 45-26-81.46 of the Code of Alabama 1975, as
Sections 45-26-242.20 to 45-26-242.26 of the Code of Alabama 1975, to transfer the duties
and functions of the license division in the office of the judge of probate to the office
of the revenue commissioner; to increase the salary of the revenue commissioner effective
beginning the next term of office; and to further provide for the salary of the judge of probate.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. Subpart 3 of Part 2 of Article 8 of
Chapter 26 of Title 45, Code of Alabama 1975, commencing with Section 45-26-81.40, is amended
and renumbered as Subpart 2 of Part 3 of Article 24 of Chapter 26, Title 45, Code of Alabama
1975, to read as follows: "Subpart 2. "§45-26-81.40 §45-26-242.20 "There
Effective July 1, 2020, there is created within the Judge of Probate's Revenue Commissioner's...
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SB312
206668-1:n:03/12/2020:KMS*/ma LSA2020-1081 SB312 By Senator Albritton RFD Finance and Taxation
General Fund Rd 1 12-MAR-20 SYNOPSIS: This bill would modify the retirement benefits for Tier
II plan members of the Employees' Retirement System by providing 30-year service retirement,
allowing the conversion of sick leave into creditable service, and, for firefighters, law
enforcement officers, and correctional officers, providing hazardous duty time. This bill
would also increase the Tier II plan member contribution rate. A BILL TO BE ENTITLED AN ACT
To amend Sections 36-26-36.1, 36-27-16, as amended by Act 2019-221 and Act 2019-316, 2019
Regular Session, 36-27-24, and 36-27-59, Code of Alabama 1975, relating to retirement benefits
for employees who are members of the Employees' Retirement System; to modify the retirement
benefits for Tier II plan members of the by providing 30-year service retirement, allowing
the conversion of sick leave into creditable service, and, for firefighters,...
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