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AL HB625
Bill
Status
4/13/2021
Primary Sponsor
David Faulkner
Click for details
AI Summary
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Exempts 14 specified community foundations from paying state, county, and municipal sales and use taxes, including foundations serving South Alabama, West Alabama, Black Belt, Northeast Alabama, Greater Birmingham, Greater Huntsville, Greater Decatur, Limestone Area, Central Alabama, Autauga Area, Elmore County, Southeast Alabama, East Alabama, and Walker Area.
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Each exempt foundation must file an annual informational report with the Department of Revenue using information consistent with Section 40-9-61 of the Alabama Code.
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Department of Revenue shall provide annual reports to the Legislative Services Agency, Fiscal Division, with information exempted from standard confidentiality provisions.
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Sales and use tax exemption becomes effective January 1, 2022, and continues through the 2026 tax year unless extended by legislative action.
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Act becomes effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Taxation, Community Foundation of South Alabama, Community Foundation of West Alabama, Black Belt Community Foundation, Community Foundation of Northeast Alabama, Community Foundation of Greater Birmingham, Community Foundation of Greater Huntsville, Community Foundation of Greater Decatur, Limestone Area Community Foundation, Central Alabama Community Foundation, Autauga Area Community Foundation, Elmore County Community Foundation, Southeast Alabama Community Foundation, Community Foundation of East Alabama, and Walker Area Community Foundation exempt from state, county, and municipal sale and use taxes
Taxation
Last Action
Faulkner motion to Indefinitely Postpone adopted Voice Vote
4/29/2021