SB65 Summary

• Amends Section 40-18-140 of the Alabama Code to add two new income tax refund check-off options: the Alabama State Historic Preservation Fund and the Archives Services Fund.

• Allows Alabama resident individual income taxpayers to voluntarily designate a portion of their tax refund (in whole dollar amounts) to contribute to either fund by checking an appropriate box on the state income tax return form.

• Contributions to the Historic Preservation Fund are deposited with the State Treasurer for distribution per Section 41-9-255, and contributions to the Archives Services Fund are deposited for distribution per Section 41-6-76.

• Establishes a performance threshold requiring that check-offs must achieve average annual gross contributions of $7,500 over a three-year period, or the check-off will be dropped from tax forms and its authorization repealed.

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