AL SB252

Amends Section 40-18-15 of the Code of Alabama 1975 to allow Alabama residents to carry forward capital losses for state income tax purposes for three years from the year the loss is incurred.

Changes capital loss treatment from a single-year deduction to a three-year carryforward period, providing taxpayers additional time to offset capital gains.

Disallows the federal capital loss carryback provision under 26 U.S.C. §1212 while limiting the carryforward to three years instead of the longer federal period.

Becomes effective immediately upon passage and approval by the Governor or upon becoming law through other means.