HB36
Rep(s). By Representatives South, Garrett, Fincher, Shedd, Pettus, Hill (M), Millican, Weaver, Rowe, Davis, Ledbetter, Williams (JD), Holmes (M), Wilcox, McCutcheon, Baker, Greer, McMillan, Beckman, Carns, Poole, Chesteen, Mooney, Treadaway, Hubbard, Faulkner and Johnson (K) HB36 ENROLLED, An Act, To establish the Alabama Small Business and Agribusiness Jobs Act; to define certain terms; to provide for a tax credit to Alabama small business employers that create new jobs and hire new employees under certain conditions; to amend Section 40-18-321, Code of Alabama 1975, to make conforming changes; to provide rulemaking authority; and to require the Department of Revenue to implement a program promoting various tax credits for small businesses and independently owned business entities. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. This act shall be known and may be cited as the Alabama Small Business and Agribusiness Jobs Act. Section 2. For the purpose of this act, the...
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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'...
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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...
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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...
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SB272
174272-1:n:02/17/2016:LFO-HP/bdl SB272 By Senator Dial RFD Finance and Taxation Education Rd 1 18-FEB-16 SYNOPSIS: Under existing law, the state imposes sales or use taxes upon certain persons, firms, or corporations. Sales of certain items are taxed at a reduced rate. Sales of other items are exempt from the taxes. This bill would increase the state sales and use tax general rate to four and one-half percent on September 1, 2016 and to five percent on September 1, 2017. This bill would phase out the state sales and use taxes on food over a two-year period by reducing the rates by two percentage points per year beginning September 1, 2016. This bill would exempt sales of food from the sales and use taxes beginning September 1, 2017. A BILL TO BE ENTITLED AN ACT To amend Sections 40-23-2 and 40-23-61, Code of Alabama 1975, to increase the state sales and use tax general rates to four and one-half percent on September 1, 2016 and five percent on September 1, 2017; to phase out the state...
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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....
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SB213
in exchange for shares or other units that are publicly traded and represent fractional undivided beneficial interests in the trust's net assets but not to the extent that metal is transferred to or from the investment trust in exchange for consideration other than such publicly traded shares or other units. For purposes of this subdivision, the term metals includes, but is not limited to, copper, aluminum, nickel, zinc, tin, lead, and other similar metals typically used in commercial and industrial applications. "(48) For the period commencing on October 1, 2012, and ending May 30, 2022, unless extended by joint resolution, the gross receipts from the sale of parts, components, and systems that become a part of a fixed or rotary wing military aircraft or certified transport category aircraft that undergoes conversion, reconfiguration, or general maintenance so long as the address of the aircraft for FAA registration is not in the state; provided, however, that this exemption shall...
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HB189
Rep(s). By Representatives Davis, Faust, Baker, Shiver and McMillan HB189 ENROLLED, An Act, To amend Section 35-8A-410, Code of Alabama 1975, relating to the Alabama Uniform Condominium Act; to define certain terms relating to escrow and building costs; to specify conditions of escrow deposit and use; and to require written notice in the contract that deposits may be used under certain conditions. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 35-8A-410, Code of Alabama 1975, is amended to read as follows: §35-8A-410. "(a)Except as provided in subsection (b), any deposit made in connection with the purchase or reservation of a unit from a person required to deliver an offering statement pursuant to Section 35-8A-402(c) shall be placed in escrow and held either in this state or in the state where the unit is located in an account designated solely for that purpose by a licensed title insurance company, an attorney, a licensed real estate broker, or an institution whose...
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HB291
written or spoken words, graphically depicted, printed, or electromagnetically transmitted that are provided by a resident of this state to a covered entity for the purpose of purchasing or leasing a product or obtaining a service. (5) DATA IN ELECTRONIC FORM. Any data stored electronically or digitally on any computer system or other database and includes recordable tapes and other mass storage devices. (6) FINANCIAL INSTITUTION. A bank, trust company with banking powers, savings bank, industrial loan company, savings association, credit union, or other lender regulated by a state or federal agency. (7) GOVERNMENTAL ENTITY. Any division, bureau, commission, regional agency, board, district, authority, agency, or other instrumentality of this state that acquires, maintains, stores, or uses data in electronic form containing sensitive personally identifying information. (8) MICROPROCESSOR CHIP DATA. The data contained in the microprocessor chip of an access device. (9) MAGNETIC STRIP...
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HB65
164062-4:n:01/25/2016:FC/tj LRS2015-122R3 HB65 By Representative Hill (M) RFD Insurance Rd 1 02-FEB-16 SYNOPSIS: This bill would provide further for the regulation of insurance by requiring certain insurers to maintain a risk management framework and complete an Own Risk and Solvency Assessment (ORSA) to be filed with the Commissioner of Insurance; by adopting a law substantially similar to the Risk Management and Own Risk and Solvency Assessment Model Act developed by the National Association of Insurance Commissioners. The bill would provide that documents and other information from an insurer in an assessment would be confidential and privileged except as otherwise provided in the bill. A BILL TO BE ENTITLED AN ACT Relating to the State Insurance Department and the regulation of insurance; to add Chapter 29A to Title 27, Code of Alabama 1975; to provide requirements for maintaining a risk management framework and completing an Own Risk and Solvency Assessment (ORSA), with...
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