HB480 Summary

• Amends Section 45-37-244.01 of the Code of Alabama 1975 to redirect proceeds from the existing 3% automobile rental tax in Jefferson County to pay Jefferson County Sewer System refunding bonds.

• Allocates collected tax revenues first to pay off the Jefferson County Sewer System refunding bonds, with any remaining amounts going to the Birmingham-Jefferson Civic Center Authority for operations and capital improvements.

• Maintains existing tax administration provisions including monthly reporting requirements, penalties of 10% plus interest for late payment, and criminal penalties up to $500 fine or 6 months imprisonment for violations.

• Requires the revenue director to distribute collected taxes monthly to the Jefferson County Sewer System and Birmingham-Jefferson Civic Center Authority in amounts specified in subsection (b).

• Becomes effective immediately upon passage by the Governor or when otherwise becoming law.