HB5 Summary

• Amends Section 40-18-140 of the Code of Alabama to add the Alabama State Historic Preservation Fund as an authorized income tax refund check-off option.

• Allows Alabama resident individual income taxpayers to designate a portion of their tax refund, rounded to whole dollars, to contribute to the Historic Preservation Fund by checking an appropriate box on their state income tax return.

• Contributions to the Alabama State Historic Preservation Fund shall be deposited with the State Treasurer for distribution to the fund as provided under Section 41-9-255.

• Check-offs that fail to achieve average annual gross contributions of $7,500 over a three-year period will be dropped from tax return forms and their authorization repealed.

• Effective for tax years beginning after December 31, 2012.