HB 140 Summary

• Authorizes the Alabama Department of Revenue to enter into agreements with financial institutions to develop and operate a Financial Institution Data Match (FIDM) program for collecting delinquent tax liabilities.

• Requires participating financial institutions to provide identifying information (name, address, Social Security number, employer ID number, and other tax identification numbers) on delinquent taxpayers on a calendar quarterly basis.

• Defines "delinquent taxpayer" as one with a final, unpaid tax assessment that remains unpaid 10 days after final notice and is not being paid through a current installment agreement with the department.

• Prohibits financial institutions from disclosing to account holders that their information was shared with the department, unless otherwise required by law, and shields institutions from liability for participating in the program.

• Establishes that all information exchanged is confidential, limited to tax administration use, and does not alter existing garnishment procedures or due process protections; first data exchange cannot occur before January 1, 2020.