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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....
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB64.htm - 11K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB90.htm - 11K - Match Info - Similar pages
HB92
173442-1:n:02/03/2016:LFO-KF/bdl HB92 By Representative Greer RFD Ways and Means Education
Rd 1 03-FEB-16 SYNOPSIS: Under current law for Alabama income tax purposes, all individuals
are exempt from the reporting of distributions received from a defined benefit plan to the
extent it is taxable for federal income tax purposes. Distributions received from a defined
contribution plan are not exempt from reporting. This bill would remove the exemption from
the reporting and taxation of such distributions and require such benefits be reported on
an individuals income tax returns effective for the 2016 calendar tax year and provide an
exemption of the first $50,000 of pension and annuity income. A portion of such distributions
may be exempt from taxation for the recapture of any basis, under certain circumstances. A
BILL TO BE ENTITLED AN ACT To amend Sections 16-25-23, 36-27-28, 36-27-170, 40-18-14, and
40-18-19 repeal Section 40-18-20 Code of Alabama 1975, to require individuals,...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB92.htm - 24K - Match Info - Similar pages
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'...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB63.htm - 9K - Match Info - Similar pages
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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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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HB459
attorneys, engineers, consultants, and other professionals as the board shall deem necessary
for the conduct of the business of the institute. "(13) To provide grants to educational,
governmental, nonprofit, community-based, workforce development, economic development, and
other organizations and associations engaged in the education, recruitment, training, placement,
and professional development of persons engaged in activities leading to the furtherance of
careers in commercial and industrial construction in accordance with the purposes of
the institute. "(14) To cooperate or partner, or both, with regional and national organizations
promoting construction workforce development, including the sharing of non-monetary marketing
and educational resources and databases, in furtherance of the purposes of the institute.
"(15) To do all things necessary or convenient to carry out the powers and purposes conferred
by this section. "(16) To exercise any and all powers permissible under...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB459.htm - 141K - Match Info - Similar pages
HB202
Rep(s). By Representative Poole HB202 ENROLLED, An Act, To adopt a revised Alabama Limited
Partnership Law as Chapter 9A of Title 10A of the Code of Alabama 1975; to provide for the
various processes of formation of a limited partnership; to provide default provisions; to
provide that certain obligations of a limited partnership may not be modified in the agreement;
to specify the information required to be included in various filings; to specify that when
both the converting entity and the converted entity are domestic entities, the statement of
conversion and the certificate of formation would be filed simultaneously with the Secretary
of State; to make various harmonizing changes to the limited liability company law; to amend
Sections 10A-1-1.03, 10A-1-1.06, 10A-1-1.08, 10A-1-4.26, 10A-1-6.02, 10A-1-6.13, 10A-1-6.25,
10A-1-7.07, 10A-5A-1.10, 10A-5A-4.01, 10A-5A-5.04, 10A-5A-7.01, 10A-5A-7.02, 10A-5A-10.03,
10A-5A-10.04, 10A-5A-10.07, and 10A-5A-10.08, Code of Alabama 1975; and to...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB202.htm - 233K - Match Info - Similar pages
SB151
173107-4:n:02/08/2016:JMH/hh LRS2015-3468R2 SB151 By Senator Ward RFD Judiciary Rd 1 09-FEB-16
SYNOPSIS: This bill would revise the Alabama Limited Partnership Law as Chapter 9A of Title
10A of the Code of Alabama 1975. This bill would harmonize the existing limited partnership
law and the existing limited liability company law by reducing the differences between the
two laws. This bill would harmonize, to the extent possible, the various processes of formation,
filings, notice, amendment and restatement of certificates of formation, admission of limited
partners and general partners, contributions and distributions, dissociation of partners and
the effects thereof, transfers of interests, charging orders, rights of personal representatives,
dissolution and winding up, direct and derivative actions, and conversions and mergers. This
bill would continue to specify various default provisions which would apply to a partnership
agreement unless modified by the partners in the partnership...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB151.htm - 236K - Match Info - Similar pages
SB15
services to and on behalf of needy persons. b. a. Nine and nine one-hundredths percent shall
be set apart and used for the following purposes only and in the following order: 1. So much
thereof as may be necessary for such purpose is hereby appropriated and shall be used by the
State Treasurer to pay at their respective maturities the principal and interest that will
mature during the then current fiscal year on all bonds at the time outstanding that may have
been issued by the State Industrial Development Authority under the provisions of the
following acts: (i) Acts 1967, No. 231; (ii) Acts 1971, No. 1420; (iii) Acts 1973, No. 1039;
(iv) Acts 1975, No. 1217; (v) Acts 1978, 2nd Ex. Sess., No. 99; (vi) Acts 1981, No. 81-843;
(vii) Acts 1983, No. 83-925; and (viii) Acts 1987, No. 87-550. 2. The balance thereafter remaining
during each fiscal year shall be paid into the State General Fund. a special fund in the State
Treasury to be designated the "General and Mental Health Fund,"...
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