AL HB445

Amends Section 40-9-12 of the Code of Alabama 1975 to add the Rosetta James Foundation to the list of entities exempt from state, county, and municipal taxes, licenses, and fees.

Extends the exemption to all real and personal property of the Rosetta James Foundation when used in conducting the foundation's programs, work, principles, objectives, and policies.

Allows the Rosetta James Foundation to receive fees, admission charges, rent, and dues without such receipts being considered pecuniary gain or individual profit that would disqualify the tax exemption.

Requires the foundation to be organized and existing in good faith in Alabama for purposes other than pecuniary gain and not for individual profit.

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