AL HB243

Amends Section 40-18-140 of the Code of Alabama 1975 to add the Alabama Firefighters Annuity and Benefit Fund as an authorized income tax refund check-off option.

Allows Alabama resident individual income taxpayers to designate a portion of their tax refund to contribute to the Alabama Firefighters Annuity and Benefit Fund by checking an appropriate box on their state income tax return form.

Contributions to the fund shall be deposited with the State Treasurer for distribution to the Alabama Firefighters Annuity and Benefit Fund, minus administrative costs not exceeding five percent.

Check-off program becomes effective for tax years beginning after December 31, 2012.

Check-off authorization will be dropped from tax forms if it fails to generate average annual gross contributions of at least $7,500 over any three-year period.