AL SB262

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 recipient.

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

Contributions will be deposited with the State Treasurer, with administration costs to the Department of Revenue not exceeding five percent.

Check-off programs that fail to achieve average annual gross contributions of $7,500 for a three-year period will be removed from tax return forms and authorization repealed.

Becomes effective for tax years beginning after December 31, 2012.