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19-3-301
Section 19-3-301 Power to amend trust instrument. (a) The trustee of a trust, whenever created,
which is or is treated as a private foundation as defined in Section 509 of the Internal Revenue
Code of 1954, a charitable trust as defined in Section 4947(a)(1) of the Internal Revenue
Code of 1954, or a split-interest trust as defined in Section 4947(a)(2) of the Internal Revenue
Code of 1954, may amend the terms of the governing instrument to the extent necessary to bring
the trust into conformity with the requirements for: (1) Termination of private foundation
status in the manner described in Section 507(b) thereof; (2) Exemption of the trust from
the taxes imposed by Sections 4941 to 4945, inclusive, thereof; or (3) Exclusion of the trust
from private foundation status under Section 509(a)(3) thereof, and for this latter purpose
may release, extinguish or renounce any power contained in the governing instrument, may reduce
or limit the charitable organizations or classes of charitable...
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45-37A-51.192
Section 45-37A-51.192 City's contributions. (a) The city shall pick up employer payment of
required participants' contributions in lieu of salary or wages through a program and plan
amendments relating to the city's employees meeting the requirements of the United States
Internal Revenue Code, as amended. (b)(1) Beginning July 1, 1995, the contribution of the
employer, excluding the board of health and employees of the board of health, shall be determined
by the actuary of the board at the level necessary to fully fund the system. The actuary shall
be required to make the determination for each actuarial year. (2) Beginning on July 1, 2017,
the employer's total minimum rate of contribution into the fund, excluding the board of health,
shall increase to 7.25 percent. (3) Beginning on July 1, 2018, the employer's total minimum
rate of contribution into the fund, excluding the board of health, shall increase to 8.50
percent. (4) Beginning on July 1, 2020, the employer's total minimum rate...
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19-3D-19
Section 19-3D-19 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. TAX-RELATED LIMITATIONS.
(a) In this section the following terms have the following meanings: (1) GRANTOR TRUST. A
trust as to which a settlor of a first trust is considered the owner under 26 U.S.C. Sections
671 through 677, as amended, or 26 U.S.C. Section 679, as amended. (2) INTERNAL REVENUE CODE.
The United States Internal Revenue Code of 1986, as amended. (3) NONGRANTOR TRUST. A trust
that is not a grantor trust. (4) QUALIFIED BENEFITS PROPERTY. Property subject to the minimum
distribution requirements of 26 U.S.C. Section 401(a)(9), as amended, and any applicable regulations,
or to any similar requirements that refer to 26 U.S.C. Section 401(a)(9) or the regulations.
(b) An exercise of the decanting power is subject to the following limitations: (1) If a first
trust contains property that qualified, or would have...
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16-25A-41
Section 16-25A-41 Definitions. The following terms shall have the following meanings, unless
the context clearly indicates otherwise: (1) BOARD. The Public Education Flexible Employees
Benefit Board. (2) EMPLOYEE. Any person employed by a state or local board of education, postsecondary
institution, or other employer with employees as defined by Sections 16-25A-1 and 16-25A-11
participating in a state health insurance program. (3) EMPLOYER. Any local board of education
within the State of Alabama or other public institution of education within the state that
provides instruction at any combination of grades K-14 exclusively, under the auspices of
the State Board of Education, or the Alabama Institute for Deaf and Blind, or entities whose
employees are covered by the Public Education Employees' Health Insurance Plan pursuant to
Section 16-25A-11. (4) INTERNAL REVENUE CODE. The Internal Revenue Code of 1986, as amended.
(5) PARTICIPATING EMPLOYEE. An employee who elects to participate in...
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27-36A-9
Section 27-36A-9 Reserve valuation method - Annuity and pure endowment benefits. (a) This section
shall apply to all annuity and pure endowment contracts other than group annuity and pure
endowment contracts purchased under a retirement plan or plan of deferred compensation, established
or maintained by an employer, including a partnership or sole proprietorship, or by an employee
organization, or by both, other than a plan providing individual retirement accounts or individual
retirement annuities under Section 408 of the Internal Revenue Code, as now or hereafter amended.
(b) Reserves according to the commissioner's annuity reserves method for benefits under annuity
or pure endowment contracts, excluding any disability and accidental death benefits in the
contracts, shall be the greatest of the respective excesses of the present values, at the
date of valuation, of the future guaranteed benefits, including guaranteed nonforfeiture benefits,
provided for by the contracts at the end of...
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40-9F-2
Section 40-9F-2 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) CERTIFIED HISTORIC STRUCTURE. A property located in Alabama which is certified
by the Alabama Historical Commission as being individually listed in the National Register
of Historic Places, eligible for listing in the National Register of Historic Places, or certified
by the commission as contributing to the historic significance of a Registered Historic District.
(2) CERTIFIED REHABILITATION. Repairs or alterations to a certified historic structure that
is certified by the commission as meeting the U.S. Secretary of the Interior's Standards for
Rehabilitation, or to non-historic structures built before 1936 which are certified by the
commission as meeting the requirements contained in Section 47(c)(1)(a) and (b) of the Internal
Revenue Code, as amended, or to a certified historic residential structure as defined in subdivision
(4). (3) CERTIFIED HISTORIC RESIDENTIAL...
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40-9F-31
Section 40-9F-31 Definitions. As used in this article, the following terms shall have the following
meanings: (1) CERTIFIED HISTORIC STRUCTURE. A property located in Alabama which is at least
sixty years old, unless the structure is an historic structure located within the boundaries
of a National Monument or Park as declared by the United States Congress or the President
of the United States, in which case the federal age provisions shall apply, and is certified
by the Alabama Historical Commission as being individually listed in the National Register
of Historic Places, eligible for listing in the National Register of Historic Places, or certified
by the commission as contributing to the historic significance of a Registered Historic District.
(2) CERTIFIED REHABILITATION. Repairs or alterations to a certified historic structure that
is certified by the commission as meeting the U.S. Secretary of the Interior's Standards for
Rehabilitation which meet the requirements contained in...
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36-29-21
Section 36-29-21 Definitions. When used in this article, the following terms shall have the
following meanings, unless the context clearly indicates otherwise: (1) BOARD. The Flexible
Employees Benefits Board. (2) EMPLOYEE. A person who is employed by the State of Alabama,
its agencies, departments, or for a county health department, and who receives his compensation
through means of a state warrant drawn upon the State Treasury, or by check drawn by the Alabama
State Port Authority, or from the treasury of the Department of Mental Health, other than
those employees covered by the federal Railroad Retirement Act. Further, for the purposes
of long-term care insurance, this definition covers any person employed by a local government
in the State of Alabama. (3) INTERNAL REVENUE CODE. The Internal Revenue Code of 1986, as
amended. (4) PARTICIPATING EMPLOYEE. An employee who elects to participate in the flexible
benefit plan and meets the requirements set forth in said plan. (5) SALARY...
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36-29-51
Section 36-29-51 Health reimbursement arrangement. (a) As used in this section, the term health
reimbursement arrangement or HRA means a plan qualifying as a health reimbursement arrangement
as that term is defined under IRS Notice 2002-45 and a medical reimbursement plan under Sections
105 and 106 of the Internal Revenue Code of 1986, as amended. (b) The State Employees' Insurance
Board may offer a health reimbursement arrangement to eligible active and retired state employees
and their dependents. The terms and conditions of the HRA shall be established by the board
in accordance with federal requirements and limitations. (c) Participants in the HRA are eligible
to receive an employer contribution into the participant's HRA from the State Employees Insurance
Fund in an amount to be determined by the board. Employer contributions into the participant's
HRA shall not constitute compensation to an employee for the purposes of any statute fixing
or limiting the compensation of the...
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41-9-218
Section 41-9-218 Definitions. As used in this article, the following terms shall have the following
meanings: (1) APPLICABLE PERCENTAGE. Zero percent for the first credit allowance date, 8.33
percent for the next six credit allowance dates, for the total of 50 percent. (2) CREDIT ALLOWANCE
DATE. With respect to any qualified equity investment, the date on which such investment is
initially made and each of the six anniversary dates of that date thereafter. (3) DEPARTMENT.
The Department of Commerce. (4) LONG-TERM DEBT SECURITY. Any debt instrument issued by a qualified
community development entity, at par value or a premium, with an original maturity date of
at least seven years from the date of its issuance, with no acceleration of repayment, amortization,
or prepayment features prior to its original maturity date. The qualified community development
entity that issues the debt instrument may not make cash interest payments on the debt instrument
during the period beginning on the...
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