HB457 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Taxation, income tax deduction for state sales tax paid on tangible personal property used to retrofit residence of taxpayer, Secs. 40-18-15.4, 40-18-15.5 repealed
Description
<p class="bill_description"> Currently, homeowners and their property are
exposed to potentially damaging and life
threatening conditions as a result of hurricanes,
tornadoes, other windstorm events, and rising
floodwaters</p><p class="bill_description">
This bill would allow a state income tax
deduction of up to a certain amount for state sales
tax paid on tangible personal property used to
retrofit the legal residence of a taxpayer and
would allow a taxpayer to claim a state income tax
deduction of up to a certain amount for excess
premium paid during the applicable tax year for
property and casualty insurance providing coverage
for the legal residence of the taxpayer</p><p class="bill_entitled_an_act"> Relating to state income tax; to allow a state
income tax deduction for state sales tax paid on tangible
personal property used to retrofit the legal residence of a
taxpayer; to allow a taxpayer to claim a state income tax
deduction for excess premium paid for property and casualty
insurance under certain circumstances; and to repeal Sections
40-18-15.4 and 40-18-15.5, Code of Alabama 1975.
</p>
Subjects
Income Tax
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 1, 2012 | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB457 Alabama 2012 Session - Introduced |