AL HB8

Establishes an Alabama income tax credit for eligible taxpayers who construct, acquire, or install a qualified storm shelter at their primary residence.

Defines a qualified storm shelter as a structure capable of withstanding an EF5 tornado, attached to a primary residence with no other qualified storm shelter present, and meeting or exceeding Federal Emergency Management Agency minimum criteria for residential safe rooms.

Tax credit equals one-third of total construction, acquisition, and installation costs, distributed over three years with annual application required.

Tax credit cannot reduce tax liability below zero, is non-refundable and non-transferable, and requires taxpayers to submit documentation proving costs and compliance with Federal Emergency Management Agency standards.

Becomes effective on the first day of the third month following passage and approval by the Governor.