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AL SB540
Bill
Status
3/11/2010
Primary Sponsor
Rodger Smitherman
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AI Summary
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Exempts the purchase of real property used as a residence from privilege or license tax and recording tax under Chapter 22, Title 40 of the Alabama Code.
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Local governing authorities must suspend collection of the privilege or license tax on residential property purchases.
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Exemption applies until January 1, 2012, after which the tax collection resumes.
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Act becomes effective immediately upon passage and approval by the Governor or upon otherwise becoming law.
Legislative Description
Taxation, purchase of real property used as a residence, exempt from privilege or license tax or recording tax pursuant to Chapter 22, Title 40 of Code of Alabama 1975
Taxation
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
3/11/2010