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AL HB292
Bill
Status
5/25/2023
Primary Sponsor
Chris Sells
Click for details
AI Summary
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Adds civil aircraft over 30 years old to Alabama's ad valorem tax exemptions when owned by persons 65 years of age or older.
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Amends Section 40-9-1 of the Code of Alabama 1975 to include the new aircraft exemption as subdivision (28) in the list of exempt property.
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Exemption applies to aircraft defined by Section 23-1-352 and operating under 14 CFR Part 91.
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Becomes effective October 1, 2024 following passage and Governor approval.
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Passed the House on May 24, 2023 with 99 yes votes, 0 no votes, and 1 abstention.
Legislative Description
Relating to exemptions from ad valorem taxation; to amend Section 40-9-1, as last amended by Act 2022-199 of the 2022 Regular Session, Code of Alabama 1975; to exempt certain aircraft from ad valorem taxation.
Taxation, certain aircraft exempt from ad valorem taxation
Last Action
Referred to Committee to Senate Finance and Taxation General Fund
5/25/2023