AL HB388

Exempts 10 named Alabama community foundations from state sales and use taxes from September 1, 2026 through August 31, 2031, including foundations serving Birmingham, Huntsville, South Alabama, the Black Belt region, and other areas

Authorizes counties and municipalities to optionally exempt these same community foundations from local sales and use taxes beginning September 1, 2026

Requires each exempt foundation to file annual informational reports with the Department of Revenue, with data shared with the Legislative Services Agency Fiscal Division

Repeals the existing sales and use tax exemption law (Section 40-9-39.4) effective January 1, 2027, replacing it with the updated exemption framework