SB67 Summary

• Amends Section 40-26B-9 of the Alabama Code to allow pharmaceutical service providers to receive direct refunds of unused supplemental privilege tax credits after October 1, 2018.

• Pharmaceutical service providers who collected and remitted the supplemental privilege tax prior to August 30, 2016 receive monthly credits against future taxes from October 1, 2016 through September 20, 2018.

• Providers with unused credits remaining after October 1, 2018 may petition the Department of Revenue for a refund of the remaining credit without interest.

• Petitions for refunds must be submitted no later than October 1, 2020, and the Department of Revenue must establish procedures to implement this refund process.

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