Bill
Bill > SB292
AL SB292
AL SB292Relating to taxation and revenue; to provide for the Department of Revenue to grant certificates of exemption from sales and use taxes to contractors and subcontractors licensed by the State Licensing Board for General Contractors for the purchase of building materials and construction materials to be used in the construction of a building or other project for an entity statutorily exempt from paying sales and use taxes; and to provide for accounting for purchases and enforcement for violations.
summary
Introduced
05/03/2023
05/03/2023
In Committee
05/17/2023
05/17/2023
Crossed Over
05/16/2023
05/16/2023
Passed
05/31/2023
05/31/2023
Dead
Signed/Enacted/Adopted
05/31/2023
05/31/2023
Introduced Session
Regular Session 2023
Bill Summary
Relating to taxation and revenue; to provide for the Department of Revenue to grant certificates of exemption from sales and use taxes to contractors and subcontractors licensed by the State Licensing Board for General Contractors for the purchase of building materials and construction materials to be used in the construction of a building or other project for an entity statutorily exempt from paying sales and use taxes; and to provide for accounting for purchases and enforcement for violations.
AI Summary
This bill provides for the Department of Revenue to grant certificates of exemption from sales and use taxes to contractors and subcontractors licensed by the State Licensing Board for General Contractors. These certificates can be used to purchase building materials and construction materials that will be used in the construction of a building or other project for an entity that is statutorily exempt from paying sales and use taxes. The bill also requires contractors and subcontractors to maintain accurate cost accounting of their purchases and use of the property, and the Department of Revenue can assess taxes and penalties for any improper use of the certificates. The intent of the bill is to lower the administrative cost for the statutorily exempt entity, contractor, and subcontractor for construction projects on behalf of the exempt entity.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (2)
Last Action
Enacted (on 05/31/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://alison.legislature.state.al.us/bill-search |
| BillText | https://www.legislature.state.al.us/pdf/SearchableInstruments/2023RS/SB292-enr.pdf |
| Fiscal Note - As Passed First Chamber | https://www.legislature.state.al.us/pdf/SearchableInstruments/2023RS/FiscalNotes/FN-6OP433-3.pdf |
| Fiscal Note - As Introduced | https://www.legislature.state.al.us/pdf/SearchableInstruments/2023RS/FiscalNotes/FN-6OP433-1.pdf |
| BillText | https://www.legislature.state.al.us/pdf/SearchableInstruments/2023RS/SB292-int.pdf |
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