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16-33C-10
Section 16-33C-10 ACES Program generally. (a) The ACES Program is established as one college
savings alternative under the plan whereby contributors open ACES savings accounts according
to savings agreements for the payment of qualified higher education costs for a designated
beneficiary at eligible educational institutions, terms as defined in Section 529 of the Internal
Revenue Code of 1986, as amended, or other applicable federal law. The ACES Program includes
the ACES Trust Fund, the ACES Administrative Fund, and the ACES Opportunity Enhancement Fund
created pursuant to this chapter. The ACES Program may be marketed under a different name
than ACES. (b) The ACES Trust Fund is hereby created and shall be comprised of separate ACES
savings accounts held in segregated accounts as established by savings agreements. Funds contributed
to the ACES savings accounts established pursuant to the ACES Program are held in trust by
the Savings Board for the sole benefit of the contributor and...
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45-49A-63.84
Section 45-49A-63.84 Direct rollover of certain distributions. (a) Notwithstanding any provision
of the plan to the contrary that would otherwise limit a distributee's election under this
subpart, a distributee may elect, at the time and in the manner prescribed by the board, to
have any portion of an eligible rollover distribution paid directly to an eligible retirement
plan specified by the distributee in a direct rollover. (b) The following definitions apply
to the terms used in this section. (1) An eligible rollover distribution is any distribution
of all or any portion of the balance to the credit of the distributee, except that an eligible
rollover distribution does not include any distribution that is one of a series of substantially
equal periodic payments, not less frequently than annually, made for the life, or life expectancy,
of the distributee or the joint lives, or joint life expectancies, of the distributee and
the distributee's designated beneficiary, or for a specified...
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40-18-25
Section 40-18-25 Estates and trusts. (a) For purposes of this chapter, the income and deductions,
including the distribution deduction, of estates and trusts shall be determined in accordance
with Subchapter J of Chapter 1 of Subtitle A of the Internal Revenue Code, 26 U.S.C. §641
et seq., relating to estates, trusts, beneficiaries, and decedents, except as otherwise provided
in this section. (1) The income and deductions shall be increased by any items that are includable
or deductible by an individual in computing Alabama income tax but are not includable or not
deductible by an individual in computing federal income tax. (2) The income and deductions
shall be decreased by any items that are not includable or not deductible by an individual
in computing Alabama income tax but are includable or deductible by an individual in computing
federal income tax. (b) For purposes of this chapter, the income and deductions of beneficiaries
of estates and trusts, and persons who are treated as...
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45-37-123.190
Section 45-37-123.190 Merger, consolidation, or transfer of assets. (a) This plan may be merged
or consolidated with any other qualified plan or its assets or liabilities transferred to
any other qualified plan as determined by the Legislature or the county. (b) A member, with
the approval of the pension board, may elect to transfer, in cash, amounts from his or her
account under a § 457(b), Internal Revenue Code, plan in accordance with such rules and regulations
as the pension board may establish from time to time. Unless otherwise determined by the pension
board, any such amounts transferred from a § 457(b), Internal Revenue Code plan shall be
treated as employee contributions for purposes of the plan. (Act 2013-415, p. 1586, §2:9.1.)...
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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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35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
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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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45-37-123
Section 45-37-123 General Retirement System for Employees of Jefferson County. (a) This part
is a defined benefit pension plan, to be known as the General Retirement System for Employees
of Jefferson County. (b) The plan was originally established in Acts 1965, No. 497, 1965 Regular
Session (Acts 1965, p. 717), which has been amended from time to time, for the purpose of
providing retirement or other specified benefits to eligible individuals. (c) Assets from
the previous retirement systems were transferred to this plan, and the system is responsible
for all obligations of such previous retirement systems. (d) The plan is intended to be a
governmental plan within the meaning of § 414(d), Internal Revenue Code, and within the meaning
of § 3(32), Employee Retirement Income Security Act of 1974, as amended, and, as such, is
exempted from the provisions of Title I of the Employee Retirement Income Security Act of
1974. (Act 2013-415, p. 1586, §1.)...
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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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45-37A-51.249
Section 45-37A-51.249 Heroes Earnings Assistance and Relief Tax Act of 2008 provisions. In
the case of a death or disability occurring on or after January 1, 2007, if a participant
dies while performing qualified military service, as defined in § 414(u), Internal Revenue
Code, the survivors of the employee are entitled to any additional benefits, other than benefit
accruals relating to the period of qualified military service, provided under the plan as
if the participant had resumed and then terminated employment on account of death. (Act 2011-585,
p. 1289, §7.)...
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