SB96 Summary

• Retroactively clarifies and confirms that gross proceeds of sales of tangible personal property to, or storage, use, or consumption by private schools, colleges, and universities located in Alabama are exempt from state and local sales and use taxes, consistent with Act 371 of 1959.

• Retroactively confirms that lunches sold to both public and private school children within school buildings are exempt from state and local sales and use taxes.

• Applies retroactively to all open tax periods and periods for which preliminary or final tax assessments could be entered, but explicitly prohibits refunds for periods prior to the act's effective date.

• Amends Sections 40-23-4 and 40-23-62 of the Code of Alabama 1975 to codify these exemptions.

• Becomes effective immediately upon passage and approval by the Governor.