HB521 Summary

• Amends Section 40-9-12 of the Code of Alabama 1975 to add Special Olympics Alabama, Incorporated to the list of organizations exempt from state, county, and municipal taxes, licenses, fees, and charges.

• Exemption applies to all real and personal property of Special Olympics Alabama, Inc., and any branches or departments organized in good faith in Alabama for purposes other than pecuniary gain.

• Exempt organizations may receive fees, admission charges, rent, dues, and service charges from persons and entities without such receipts constituting pecuniary gain or individual profit that would disqualify them from tax-exempt status.

• Organizations exempt under this section must pay prepaid taxes (gasoline, tobacco, playing cards, etc.) at the time of purchase and request refunds from the Department of Revenue pursuant to Chapter 2A refund procedures.

• The act becomes effective on the first day of the third month following passage and approval by the Governor.