AL SB426

Amends Section 40-9-25.19 of the Code of Alabama 1975 to add the Wallace State Community College in Hanceville Future Foundation to existing property tax exemptions.

Exempts property owned by the Wallace State Community College in Hanceville Future Foundation from state, county, and local ad valorem taxes when used for charitable purposes.

Exempts purchases by the Wallace State Community College in Hanceville Future Foundation from state, county, and local sales and use taxes when used for charitable purposes.

Brings the Wallace State Community College in Hanceville Future Foundation under the same tax exemption provisions already extended to the Lurleen B. Wallace Community College Foundation and the Calhoun Community College Foundation.

Effective on the first day of the third month following passage and approval by the Governor.