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AL HB64
Bill
Status
1/12/2010
Primary Sponsor
H Gipson
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AI Summary
HB64 Summary
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Amends Section 40-8-1 of the Alabama Code to reclassify privately owned, noncommercial aircraft into Class IV for ad valorem tax purposes.
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Reduces the tax rate on noncommercial aircraft from 20 percent to 15 percent by including them in the same class as private passenger automobiles and pickup trucks.
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Restricts Class IV aircraft classification to those used exclusively for personal pleasure, display, or aircraft shows without compensation and not used for business purposes or passenger/cargo transportation for a fee.
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Bill becomes effective only upon adoption of an amendment to Amendment No. 373 of the Alabama Constitution of 1901, which governs property tax classifications.
Legislative Description
Ad valorem tax, classifications of property, aircraft, privately owned, noncommercial, included within Class IV Property, effective on adoption of const. amend., Sec. 40-8-1 am'd.
Aircraft
Last Action
Read for the first time and referred to the House of Representatives committee on Government Appropriations
1/12/2010