HB118 Summary

• Exempts motor vehicles and utility trailers owned by volunteer rescue squads incorporated in Alabama from payment of license, registration fees, and all ad valorem taxes, provided they are used exclusively for life-saving, rescue, or first aid purposes without profit and are not rented, leased, or loaned to private individuals or entities.

• Effective January 1, 2022, expands the exemption to include utility trailers as defined in Section 40-12-240 of the Alabama Code.

• Requires the Alabama Department of Revenue to centrally value and assess all airplanes, airships, and other aircraft listed in Section 40-11-1 of the Alabama Code, effective October 1, 2022.

• Authorizes the Department of Revenue to adopt rules for implementation and administration of aircraft valuation and assessment provisions.