AL HB162

Amends Section 40-23-5 of the Code of Alabama 1975 to add a new subsection (t) exempting the Zoo Foundation, Inc., operating as the Alabama Gulf Coast Zoo from state, county, and municipal sales and use taxes on capital expenditures.

The exemption applies only to capital expenditures; the zoo must continue to collect and remit all other taxes to appropriate taxing authorities.

The exemption is available for four years from the effective date of the bill.

The Zoo Foundation, Inc., must report annually to the Department of Revenue on sales for which the exemption is claimed, in a format prescribed by the Department of Revenue.

The act becomes effective on the first day of the third month following passage and approval by the Governor.