HB 387 Summary

• Amends Section 40-9-12 of the Code of Alabama 1975 to add the Alabama State Missionary Baptist Convention, Incorporated to the list of entities exempt from state and local taxation.

• Extends exemption from ad valorem and sales and use taxes to each local Baptist association that is a member in good standing of the state convention, along with all real and personal property of these associations.

• Adds All Collaborated To Serve The Community Development Corporation to the existing tax exemption provisions.

• Requires the Alabama State Missionary Baptist Convention, Incorporated to submit a list of local Baptist associations in good standing to the Department of Revenue on a schedule determined by departmental rule.

• Effective date is the first day of the third month following passage and approval by the Governor.