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AL SB265
Bill
Status
2/17/2016
Primary Sponsor
Larry Stutts
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AI Summary
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Amends Section 40-13-53 of the Code of Alabama 1975, relating to the Alabama Uniform Severance Tax Act.
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Removes the exception from severance tax for minerals severed from the ground in Alabama, sold to a purchaser for use in another state, and not transported on Alabama public roads.
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Maintains existing exemptions for specific materials including lime, limestone for agricultural purposes, coal, oil, natural gas, marble, iron ore, and quartzite.
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Effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Uniform Severance Tax Act, exception for minerals severed in Alabama, sold to buyer in another state, and not transported on public roads in Alabama deleted, Sec. 40-13-53 am'd.
Taxation
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
2/17/2016