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AL HB25
Bill
Status
1/12/2010
Primary Sponsor
Joseph Mitchell
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AI Summary
HB25 Summary
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Amends Alabama Code Section 40-9-19 to establish annual adjustments to homestead property tax exemptions based on changes in the gross national product (GNP).
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The Department of Revenue shall calculate and adjust all homestead exemption amounts annually using GNP data rather than maintaining fixed dollar amounts.
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Maintains existing homestead exemption categories and eligibility requirements for residents over 65 years of age, permanently and totally disabled persons, and blind individuals.
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Becomes effective October 1, 2009, following passage and approval by the Governor.
Legislative Description
Homestead exemptions, annual adjustment based on gross national product, Revenue Department to calculate, Sec. 40-9-19 am'd.
Homestead Exemption
Last Action
Read for the first time and referred to the House of Representatives committee on Government Appropriations
1/12/2010