HB276
Rep(s). By Representative Lovvorn HB276 ENGROSSED A BILL TO BE ENTITLED AN ACT Relating to taxation; to provide an income tax credit for the construction, acquisition, or installation of a qualified storm shelter. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. (a) As used in this act, the following terms shall have the following meanings: (1) MANUFACTURED HOME. Any structure built to the Manufactured Home Construction and Safety Standards that displays a red certification label on the exterior of each transportable section. (2) PRIMARY RESIDENCE. Any manufactured home or single family residence building that is the legal residence of the taxpayer and is used for purposes of the taxpayer's income tax calculation. (3) QUALIFIED STORM SHELTER. A storm shelter or safe room to which all of the following apply: a. The design is capable of withstanding an EF5 tornado. b. The shelter or room is placed in service as an attachment to the taxpayer's primary residence, or on the same lot...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB276.htm - 7K - Match Info - Similar pages
SB197
205023-1:n:02/18/2020:LK/tj LSA2020-673 SB197 By Senator Whatley RFD Agriculture, Conservation and Forestry Rd 1 18-FEB-20 SYNOPSIS: This bill would establish an income tax credit for eligible taxpayers who incur costs for the construction, acquisition, or installation of a qualified storm shelter, as defined. A BILL TO BE ENTITLED AN ACT Relating to taxation; to provide an income tax credit for the construction, acquisition, or installation of a qualified storm shelter. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. (a) As used in this act, the following terms shall have the following meanings: (1) MANUFACTURED HOME. Any structure built to the Manufactured Home Construction and Safety Standards that displays a red certification label on the exterior of each transportable section. (2) PRIMARY RESIDENCE. Any manufactured home or single family residence building that is the legal residence of the taxpayer and is used for purposes of the taxpayer's income tax calculation. (3)...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB197.htm - 6K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB122.htm - 24K - Match Info - Similar pages
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;...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB4.htm - 111K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB353.htm - 73K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB250.htm - 73K - Match Info - Similar pages
HB187
Rep(s). By Representative Poole HB187 ENROLLED, An Act, To make appropriations for the support, maintenance and development of public education in Alabama, for debt service, and for capital outlay for the fiscal year ending September 30, 2021. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. There is hereby appropriated for the support of public education in Alabama for the fiscal year ending September 30, 2021, for debt service, and for capital outlay to be paid out of funds specified in subsection (a) of Section 2 of this act, the amounts specified in subsections (a), (b), (c), (d), and (e) of Section 3 of this act. For the purpose specified in subsection (b) of Section 2 of this act, amounts are shown by programmatic area and the total for all programs is shown so as to include estimated sources of funds other than those listed in subsection (a) of Section 2 of this act. For the purpose of this act, "ETF" shall mean the Education Trust Fund and "Federal and Local Funds" shall...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB187.htm - 169K - Match Info - Similar pages
HB347
204381-2:n:02/27/2020:KMS/ma LSA2020-192R1 HB347 By Representative Collins RFD Ways and Means Education Rd 1 27-FEB-20 SYNOPSIS: Under existing law, the Alabama School Choice and Student Opportunity Act provides for the establishment of public charter schools in the state. This bill would provide further for the membership of the Alabama Public Charter School Commission, would authorize the commission to employ staff, and would allow an applicant to apply directly to the commission to open a public charter school under certain conditions. This bill would also provide further for the funding of public charter schools based on projected enrollment initially and then on current enrollment, would require the disbursement of funds to a public charter school on a monthly, rather than quarterly, basis, and would provide for the treatment of certain local revenues and local tax allocations. A BILL TO BE ENTITLED AN ACT To amend Sections 16-6F-6, 16-6F-7, 16-6F-9, and 16-6F-10, Code of Alabama...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB347.htm - 57K - Match Info - Similar pages
HB239
203776-2:n:02/12/2020:CMH/bm LSA2019-3058 HB239 By Representative Garrett RFD State Government Rd 1 13-FEB-20 SYNOPSIS: The bill would abolish the Division of Purchasing in the Department of Finance and replace it with the Office of the Chief Procurement Officer to make or supervise state purchases of supplies or services. The bill would provide for the appointment, qualifications, duties, and authority of the Chief Procurement Officer. A BILL TO BE ENTITLED AN ACT Relating to the purchase of supplies and services by state government; to repeal Article 5 (commencing with Section 41-4-110) of Chapter 4 of Title 41 of the Code of Alabama 1975, creating the Division of Purchasing in the Department of Finance; and to add Article 5A (commencing with Section 41-4-110A) to Chapter 4 of Title 41 of the Code of Alabama 1975, creating the Office of the Chief Procurement Officer and the position of Chief Procurement Officer to make or supervise the purchase of supplies or services by the state...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/HB239.htm - 84K - Match Info - Similar pages
SB182
SB182 ENGROSSED By Senators Orr, Albritton, Shelnutt, Butler, Melson and Allen A BILL TO BE ENTITLED AN ACT Relating to the purchase of supplies and services by state government; to repeal Article 5 (commencing with Section 41-4-110) of Chapter 4 of Title 41 of the Code of Alabama 1975, creating the Division of Purchasing in the Department of Finance; to repeal Article 2 (commencing with Section 41-16-20) and Article 3A (commencing with Section 41-26-70) of Chapter 16 of Title 41, Code of Alabama 1975; and to add Article 5A (commencing with Section 41-4-110A) to Chapter 4 of Title 41 of the Code of Alabama 1975, creating the Office of the Chief Procurement Officer and the position of Chief Procurement Officer to make or supervise the purchase of supplies or services by the state and to provide for the appointment, qualifications, duties, and authority of the Chief Procurement Officer; and to amend Sections 41-4-66 and 41-16-50 of the Code of Alabama 1975, to provide the Chief...
alisondb.legislature.state.al.us/alison/searchableinstruments/2020RS/bills/SB182.htm - 91K - Match Info - Similar pages
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