SB136 Summary

• Proposes a constitutional amendment to levy an additional 5 mill annual state ad valorem tax on the assessed value of taxable property in Alabama

• The new tax would take effect after December 31, 2016, and apply to all taxable property subject to existing exemptions, valuations, and limitations under general law

• Net proceeds from the additional tax shall be distributed to the State General Fund for Medicaid purposes

• Amendment election shall be held at the next statewide primary, general, or special election in accordance with Sections 284 and 285 of the Alabama Constitution

• Ballot description will indicate the amendment provides an additional 5 mill ad valorem tax effective after December 31, 2016, with net proceeds going to the State General Fund for Medicaid purposes