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AL SB131
Bill
Status
2/3/2016
Primary Sponsor
Paul Sanford
Click for details
AI Summary
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Adds Section 40-18-15.6 to Alabama Code to allow a deduction on Alabama Individual Income Tax returns for Health Savings Account contributions that mirrors the federal deduction allowed under 26 USC §223.
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Permits Alabama residents to deduct HSA contributions made on or after January 1, 2018, up to the maximum annual amount allowed by federal law or regulation.
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Excludes employer contributions from the deduction, as they are not includible in an employee's income.
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Becomes effective for taxable years beginning after December 31, 2017, following passage and approval by the Governor.
Legislative Description
Health Savings Accounts, income tax deduction auth. for contributions to, Sec. 40-18-15.6 added.
Taxation
Last Action
Indefinitely Postponed
4/28/2016