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AL HB109
Bill
Status
5/4/2016
Primary Sponsor
Becky Nordgren
Click for details
AI Summary
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Adds Section 40-18-15.6 to Alabama Code to allow taxpayers to deduct Health Savings Account (HSA) contributions on Alabama Individual Income Tax returns, mirroring federal income tax deductions allowed under 26 USC §223.
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Alabama residents may deduct HSA contributions made on or after January 1, 2018, up to the maximum amount allowed by federal law or regulation.
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Employer contributions are excluded from the deduction as they are not includible in an employee's income.
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Effective for taxable years beginning after December 31, 2017, following passage and approval by the Governor or upon otherwise becoming law.
Legislative Description
Health Savings Accounts, income tax deduction auth. for contributions to, Sec. 40-18-15.6 added.
Taxation
Last Action
Delivered to Governor at 11:00 a.m. on May 4, 2016.
5/4/2016