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AL HB505
Bill
Status
4/7/2016
Primary Sponsor
Phil Williams
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AI Summary
HB505 Summary
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Suspends any tax credits earned in a tax year when the Governor declares proration of the General Fund or Education Trust Fund.
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Suspends any tax credits earned in a tax year when the General Fund Appropriation Act or Education Trust Fund Appropriation Act is level funded based on the prior year act.
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Tax credits suspended under these conditions apply only to the specific tax year in which the proration was declared or level-funded appropriations act was enacted.
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Becomes effective January 1, 2017, following passage and approval by the Governor.
Legislative Description
Taxation, suspending tax credits when Governor declares proration of the General Fund or Education Trust Fund or General Fund Appropriation Act or Education Trust Fund Appropriation Act
Taxation
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
4/7/2016