Bill > SB79

This bill amends Alabama's income tax law to allow individuals to exclude contributions made by their employer to a "Trump Account" from their gross income, starting in tax years beginning on or after January 1, 2026, referencing a federal law called the "One, Big, Beautiful Bill Act." Additionally, it makes permanent the existing exclusion from gross income for amounts paid by an employer towards an employee's qualified education loan, also effective from January 1, 2026, and referencing the same federal act for the definition of qualified education loans. Gross income, for tax purposes, generally includes all income from various sources, but this bill adds these two specific employer contributions as new exemptions.

Budget and Finance

https://alison.legislature.state.al.us/bill-search