AL SB306

Amends Alabama Code sections 45-19-244, 45-19-244.01, 45-19-244.02, 45-19-244.03, and 45-19-244.05 to add graphite to the definition of materials subject to severance tax in Coosa County.

Establishes a severance tax on graphite at $5 per ton, compared to $0.25 per ton for earthen materials, paid by producers who sever graphite within Coosa County to the Department of Revenue.

Requires producers to file monthly reports within 20 days after the end of each calendar month detailing amounts of earthen materials or graphite severed or sold, regardless of whether any product was severed that month.

Requires purchasers and transporters of products severed in Coosa County to file monthly reports with the Department of Revenue within 20 days of month-end, including producer names, addresses, quantities acquired, and delivery information.

Sets the Department of Revenue's collection fee at up to 5 percent of earthen material tax collections and 1 percent of graphite tax collections, deductible monthly from tax proceeds before payment to Coosa County.

Repeals Section 45-19-244.07 (the severance tax expiration provision for the county) and makes the act effective immediately upon passage and Governor approval.