SB412 Summary

• Exempts the Southern Research Institute from paying or collecting any state, county, and municipal sales and use taxes.

• Bill addresses existing Alabama law that imposes sales and use taxes ranging from 1.5 to 4 percent on gross proceeds of tangible personal property sales and amusement/entertainment operations.

• Becomes effective on the first day of the third month following passage and approval by the Governor, or upon otherwise becoming law.