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AL HB483

Bill

Official Source

Status

Introduced

4/1/2025

Primary Sponsor

Mike Shaw

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Amends Alabama Code Section 40-9-1 to add virtual currency as a new exemption category from ad valorem taxation.

  • 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, or medium of exchange.

  • Exempts all virtual currency holdings from state, county, and municipal ad valorem property taxes.

  • Becomes effective October 1, 2025.

Legislative Description

Virtual currency, declares preemption of virtual currency or cryptocurrency regulation by the Legislature and exempts virtual currency from ad valorem tax

Government Administration

Last Action

Currently Indefinitely Postponed

5/6/2025

Committee Referrals

Ways and Means General Fund4/1/2025

Full Bill Text

No bill text available