HB448 Summary

• Amends Alabama Code Sections 40-23-4 and 40-23-62 to clarify and expand sales and use tax exemptions for watercraft and related equipment.

• Exempts fuel, supplies, and materials for vessels engaged in foreign or international commerce or interstate commerce, including ships, barges, drilling rigs, and seismic vessels.

• Exempts materials and equipment that become component parts of vessels, including lifeboats, personal flotation devices, safety equipment, navigation devices, and other Coast Guard-required equipment.

• Clarifies that commercial fishing vessels over five tons load displacement registered with the U.S. Coast Guard and licensed by Alabama qualify for fuel exemptions.

• Effective three months after passage and approval by the Governor.