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Bill > SB375
AL SB375
AL SB375Taxation, individual and corporate tax structure revised, specific tax rate, reduction of rate under certain conditions, const. amend.
summary
Introduced
03/08/2018
03/08/2018
In Committee
03/08/2018
03/08/2018
Crossed Over
Passed
Dead
03/29/2018
03/29/2018
Introduced Session
Regular Session 2018
Bill Summary
Taxation, individual and corporate tax structure revised, specific tax rate, reduction of rate under certain conditions, const. amend.
AI Summary
This bill proposes an amendment to the Constitution of Alabama to revise the individual income tax structure by providing a single specific tax rate of 4.20% for individuals, with certain tax credits and deductions allowed under specific conditions. It would repeal the existing provision that allows deduction of federal income tax from gross income. The Legislature would be authorized to enact general laws to implement the amendment, which would become effective on January 1, 2019 if approved by a majority of voters.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate F&TE Hearing (11:30 3/21/2018 Room 727 **REVISED - BILL REMOVED**) (on 03/21/2018)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | http://alisondb.legislature.state.al.us/ALISON/SearchableInstruments/2018RS/PrintFiles/SB375-int.pdf |
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