HB745 Alabama 2012 Session

Summary

Primary Sponsor

Jack Williams

Republican

Session

Regular Session 2012

Title

Counties, certain counties who have filed Chapter 9 bankruptcy may levy and collect certain taxes, financial advisory committee established

Description

This bill, in addition to such authorization as may be currently provided by law, would authorize the governing body of each county currently seeking or that may seek relief under Chapter 9 of the United States Bankruptcy Code, and in respect of whose petition an Order for Relief is entered pursuant thereto, to levy and collect various taxes, including sales, use, leasing, privilege license, and excise taxes, subject to certain limitations and restrictions.

This bill would require the governing body of such county to hold a public hearing regarding the levy of any additional tax allowed by this act, prior to the levy and collection of the additional tax.

This bill would provide that any tax authorized by this act may not be levied and collected if the estimated revenues from the tax for the first full fiscal year exceed, when added to all other additional taxes, 20 percent of the largest annual amount of the county expenditures reflected in the budgets of the county adopted in September of each year for the five fiscal years of the county immediately preceding the filing of its petition for relief under the United States Bankruptcy Code.

This bill would provide for the establishment, membership, appointment, qualifications, and responsibilities of a financial advisory committee for any county levying any additional tax as authorized by this act.

This bill would provide for the termination of the authority to provide for the initiation of the levy and collection of the additional taxes authorized by this act.

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Subjects

Counties