SB509 Alabama 2012 Session

Summary

Primary Sponsor

Trip Pittman

Republican

Co-Sponsors

Scott BeasonShadrack McGillBill HoltzclawClay Scofield

Session

Regular Session 2012

Title

Business personal property, Revenue Department required to recalculate the composite factors for

Summary

SB509 would require the Department of Revenue to recalculate the composite factors used to assess business personal property so those factors reach zero in the year after the last year a reduction was shown.

What This Bill Does

It changes how the value of business personal property is calculated by forcing the Department of Revenue to recalculate the composite factors. The recalculation must be done so the composite factor becomes zero in the year immediately following the last year a reduction is shown, making the assessed value of business personal property effectively zero in that year. This change also repeals conflicting laws and specifies when the act becomes effective.

Who It Affects

• Businesses that own or report business personal property, because their property values for tax assessments would be recalculated
• Alabama Department of Revenue, which would perform the recalculation and enforce the new rule

Key Provisions

• The Department of Revenue must recalculate the composite factors used to determine the assessed value of business personal property so the factor reaches zero in the year after the last year a reduction is shown
• All laws or parts of laws that conflict with SB509 are repealed, and the act includes a not-withstanding clause to override other rules
• The act becomes effective on the first day of the third month after its passage and governor approval (or otherwise becoming law)

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Business and Commerce