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AL SB300
Bill
Status
4/8/2025
Primary Sponsor
David Sessions
Click for details
AI Summary
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Increases the state ad valorem tax exemption threshold for tangible personal property owned by businesses from $40,000 to $100,000 in market value.
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Property must be reported in accordance with Article 1 of Chapter 7 of the Alabama Code to qualify for the exemption.
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Allows counties and municipalities to adopt the same $100,000 exemption for their ad valorem taxes on tangible personal property by resolution or ordinance, with 90 days' notice before the applicable tax year.
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Makes nonsubstantive technical revisions to update existing code language to current style, including updating a reference to the Alabama Constitution of 2022.
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Effective October 1, 2025.
Legislative Description
To amend 40-9-1; increasing the market value threshold amount for which tangible personal property is exempt from state ad valorem taxation
Taxation & Revenue
Last Action
Currently Indefinitely Postponed
5/6/2025