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AL HB127
Bill
Status
Introduced
1/13/2022
Primary Sponsor
Andrew Sorrell
Click for details
AI Summary
HB127 Summary
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Amends Section 40-9-1 of the Alabama Code to add virtual currency as a new exemption from ad valorem taxation.
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Defines virtual currency as a digital representation of value (other than U.S. dollars or foreign currency) that functions as a unit of account, store of value, and/or medium of exchange.
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Becomes effective on the first day of the third month following passage and gubernatorial approval or otherwise becoming law.
Legislative Description
Virtual currency, exemption from ad valorem taxation provided, Sec. 40-9-1 am'd.
Taxation
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
1/13/2022
Committee Referrals
Ways and Means General Fund1/13/2022
Full Bill Text
No bill text available