AL HB339

Defines "general aviation aircraft" as civil aircraft weighing over 12,500 pounds that are not commercial, military, or unmanned vehicles, and are owned or leased by companies with principal places of business in Alabama.

Exempts gross receipts from the sale of general aviation aircraft and installed machinery or equipment from state, county, and municipal sales and use taxes.

Exempts the lease of general aviation aircraft and installed machinery or equipment from state, county, and municipal lease and rental taxes, effective October 1, 2025.

Exempts general aviation aircraft and installed machinery or equipment from ad valorem taxation, effective October 1, 2024.

Authorizes the Department of Revenue to adopt rules for implementing and administering the act, with effective date of September 1, 2025.