HB504 Alabama 2011 Session

Summary

Primary Sponsor

Craig Ford

Independent

Session

Regular Session 2011

Title

Corporations, required to file Form 10-K with Securities and Exchange Commission, to file Form 10-K report regarding business in Alabama with Revenue Department

Summary

HB504 would require public companies that file Form 10-K with the SEC and operate in Alabama to also file a Form 10-K with the Alabama Department of Revenue about their Alabama business.

What This Bill Does

The bill adds an Alabama-specific 10-K filing requirement for public companies that file with the SEC and operate in Alabama. The Alabama Department of Revenue would collect these filings and set rules to implement the law. The law would take effect on the first day of the third month after it is passed and approved by the Governor (or becomes law by other means).

Who It Affects

• Public companies that file Form 10-K with the SEC and operate in Alabama will have to file an additional Alabama-focused Form 10-K with the Department of Revenue.
• Alabama Department of Revenue will receive the Alabama-form filings and issue rules/regulations to carry out the act.

Key Provisions

• Section 1 requires public companies filing Form 10-K with the SEC and operating in Alabama to also file a Form 10-K with the Alabama Department of Revenue, providing information about its Alabama business; the clause states this is notwithstanding any other law to the contrary.
• Section 2 directs the Department of Revenue to promulgate rules and regulations necessary to implement the act.
• Section 3 establishes the effective date as the first day of the third month following passage and governor approval, or when it becomes law by other means.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Corporations