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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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SB242
173544-1:n:02/05/2016:LFO-HP*/bdl SB242 By Senator Pittman RFD Finance and Taxation Education
Rd 1 16-FEB-16 SYNOPSIS: This bill updates the sales and use tax laws to provide for definitions
of tangible personal property and digital goods. This bill also amends the definition of a
wholesale sale to add clarification and consistency to the sales and use tax code. A BILL
TO BE ENTITLED AN ACT Relating to sales and use tax definitions; to amend Sections 40-23-1,
40-23-2, 40-23-60, and 40-23-61 of the Code of Alabama 1975, to add and update definitions.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Sections 40-23-1, 40-23-2, 40-23-60,
and 40-23-61, Code of Alabama 1975 are hereby amended to read as follows: ยง40-23-1. "(a)
For the purpose of this division, the following terms shall have the respective meanings ascribed
by this section: "(1) PERSON or COMPANY. Used interchangeably, includes any individual,
firm, copartnership, association, corporation, receiver, trustee, or any...
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HB349
the leased tangible personal property by the lessee, which right to purchase such property
shall be exercisable solely at the option of the lessee; "c. The appropriate sales or
use tax levied by the state shall have been paid with respect to the acquisition or use of
the leased tangible personal property, or, alternatively, the acquisition or use of such property
shall be exempt by law from such sales or use tax; "d. The leased tangible personal property
shall be installed in or about an industrial plant or other real property that was
specially constructed or modified for the location and use of such tangible personal property
and that is owned, or considered to be owned for either Alabama or federal income tax purposes
or both, by a corporation, partnership, or other entity controlled by, or under common control
with, the lessee of such tangible personal property; and "e. The leased tangible property
shall be used only by a lessee engaged in the iron and steel industry, and the...
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SB345
the leased tangible personal property by the lessee, which right to purchase such property
shall be exercisable solely at the option of the lessee; "c. The appropriate sales or
use tax levied by the state shall have been paid with respect to the acquisition or use of
the leased tangible personal property, or, alternatively, the acquisition or use of such property
shall be exempt by law from such sales or use tax; "d. The leased tangible personal property
shall be installed in or about an industrial plant or other real property that was
specially constructed or modified for the location and use of such tangible personal property
and that is owned, or considered to be owned for either Alabama or federal income tax purposes
or both, by a corporation, partnership, or other entity controlled by, or under common control
with, the lessee of such tangible personal property; and "e. The leased tangible property
shall be used only by a lessee engaged in the iron and steel industry, and the...
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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,"...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB15.htm - 81K - Match Info - Similar pages
HB321
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 HB321 By Representatives Faust, Shiver, Sessions,
Gaston, Baker, McMillan, Bracy, Buskey, Pringle, Williams (JW), Wilcox, Davis, Clarke, Drummond
and Jackson RFD Insurance Rd 1 25-FEB-16 SYNOPSIS: Under existing law, all insurers authorized
and writing property insurance in the State of Alabama are required to be members of the Alabama
Insurance Underwriting Association, which was established to provide a method whereby essential
property insurance coverage would be provided in any county contiguous to the Gulf of Mexico
and Mobile Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose
of providing affordable windstorm insurance for owners of insurable property in any county
contiguous to the Gulf of Mexico and Mobile Bay. This bill would provide for the selection
of the board of directors of the authority. This bill would provide for the adoption of the
plan of operation of the authority, including the process...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/HB321.htm - 38K - Match Info - Similar pages
SB298
174083-2:n:02/24/2016:KMS*/cj LRS2016-633R1 SB298 By Senators Hightower and Pittman RFD Banking
and Insurance Rd 1 24-FEB-16 SYNOPSIS: Under existing law, all insurers authorized and writing
property insurance in the State of Alabama are required to be members of the Alabama Insurance
Underwriting Association, which was established to provide a method whereby essential property
insurance coverage would be provided in any county contiguous to the Gulf of Mexico and Mobile
Bay. This bill would create the Alabama Coastal Insurance Authority for the purpose of providing
affordable windstorm insurance for owners of insurable property in any county contiguous to
the Gulf of Mexico and Mobile Bay. This bill would provide for the selection of the board
of directors of the authority. This bill would provide for the adoption of the plan of operation
of the authority, including the process for post-loss assessments of policyholders and assessable
insurers. This bill would authorize the sale of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2016rs/bills/SB298.htm - 38K - Match Info - Similar pages
SB335
SB335 By Senator Sanford ENROLLED, An Act, To amend Sections 40-2A-3, 40-2A-6, 40-2A-12, 40-2A-13,
40-2A-14, and 40-2A-15 of the Code of Alabama 1975, relating to the Alabama Taxpayers' Bill
of Rights and Uniform Revenue Procedures Act; to further define terms; to further require
signed and dated written authorization for examining the books and records of a taxpayer under
certain conditions; to require certain disclosures; to further provide the time frame in which
a private auditing or collecting firm engaged by a self-administered municipality or county
may commence an examination; to require certain confidentiality requirements; to provide for
an independent hearing or appeals officer; to require a public official or employee of the
taxing authority sign the final assessment; to provide minimum education requirements for
examiners of private auditing or collecting firms; and to require the Alabama Local Tax Institute
of Standards and Training Board to establish a hotline to...
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SB202
171463-1:n:08/17/2015:JET*/th LRS2015-2668 SB202 By Senators Coleman-Madison, Beasley, Singleton,
Pittman, Figures and Sanders RFD Finance and Taxation Education Rd 1 11-FEB-16 SYNOPSIS: Under
current law, each entity, subject to the Alabama corporate income tax, is required to file
a separate return and calculate the income tax on its separately accounted for taxable income,
regardless whether the entity is part of a larger business that consists of an affiliated
group of entities. This filing method allows large corporate taxpayers to take advantage of
tax planning options to shift income to other entities within the affiliated group located
in tax favorable states. Most large corporate businesses consist of a parent corporation and
a number of corporate subsidiaries. This bill would amend the corporate income tax law to
require the operations of all related entities, involved in a unitary business, file one corporate
income tax return on a combined basis, known as combined...
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HB224
Rep(s). By Representative Garrett HB224 ENGROSSED A BILL TO BE ENTITLED AN ACT To establish
the Alabama Small Business Investment Company Act; to provide for tax credits for taxpayers
that make eligible capital contributions to an eligible Alabama small business investment
fund; to require the Department of Commerce to accept applications for eligibility as an Alabama
small business investment fund and to make determinations of eligibility; to specify the amount
of tax credits that may be claimed for eligible contributions; to provide for the carrying
forward of credits under certain conditions; to provide procedures for the revocation of tax
credits for ineligible contributions; to provide procedures for the exit from the program;
to require each small business investment fund to report to the department certain employment
and financial information; to require the department to provide certain information regarding
whether businesses satisfy certain criteria relating to instate...
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