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AL SB273
Bill
Status
4/2/2024
Primary Sponsor
David Sessions
Click for details
AI Summary
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Amends Section 40-23-197 of the Code of Alabama 1975 to modify the distribution of simplified sellers use tax (SSUT) proceeds to municipalities.
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Requires the population ratio used for distributing 60% of SSUT net proceeds to municipalities to be adjusted annually to include population increases from annexations occurring between federal decennial censuses.
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Municipalities must request ratio adjustments and provide notice to the Department of Revenue along with census blocks or portions involved in annexations to maintain accurate corporate limits information.
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Population ratio adjustments apply to distributions made between releases of consecutive federal decennial censuses.
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Effective June 1, 2024.
Legislative Description
Sales and use tax, simplified sellers use tax, municipalities, distribution to be adjusted based on population adjusted for annexations annually based on report of U.S. Secretary of Commerce
Taxation & Revenue
Last Action
Pending Senate Finance and Taxation Education
4/2/2024