SB 418 Summary

• Amends Section 40-23-4 of the Code of Alabama 1975 regarding state sales tax exemptions for agricultural products.

• Changes the existing exemption requirement from requiring a person or corporation to have "planted, cultivated, and harvested" fruit or agricultural products to now requiring only that they "planted, cultivated, or harvested" the products (making the exemption available even if only one of these activities was performed).

• Broadens eligibility for the sales tax exemption to include sellers who performed any single stage of agricultural production rather than all three stages.

• Becomes effective immediately upon passage and approval by the Governor.