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AL HB157
Bill
Status
Introduced
1/14/2014
Primary Sponsor
Wes Long
Click for details
AI Summary
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Amends Section 40-9-1 of the Code of Alabama 1975 to add a new exemption from ad valorem taxation for individual tangible taxable assets with an original acquisition cost of $250 or less, excluding real property.
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Defines "original acquisition cost" as the amount paid by the current owner to acquire the tangible taxable asset.
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Becomes effective October 1, 2013, following passage and approval by the Governor or otherwise becoming law.
Legislative Description
Taxation, exempt tangible assets, exempt real property whose original acquisition cost was less than $250.00, Sec. 40-9-1 am'd.
Taxation
Last Action
Read for the first time and referred to the House of Representatives committee on Commerce and Small Business
1/14/2014
Committee Referrals
Commerce and Small Business1/14/2014
Full Bill Text
No bill text available