HB624 Alabama 2013 Session

Summary

Primary Sponsor

Wes Long

Republican

Co-Sponsors

David SessionsSteve ClouseJamie IsonRichard BaughnWilliam RobertsRandy WoodJack WilliamsK.L. BrownDavid StandridgeMack N. ButlerSteve McMillanJim BartonMike Jones

Session

Regular Session 2013

Title

Taxation, exempt tangible assets, exempt real property whose original acquisition cost was less than $250.00, Sec. 40-9-1 am'd.

Summary

This bill would exempt all small personal property assets with original cost of $250 or less from Alabama's ad valorem (property) taxes.

What This Bill Does

It adds a new exemption to Section 40-9-1 for individual tangible taxable assets (excluding real property) whose original acquisition cost is $250 or less. This means owners would not owe ad valorem tax on those assets. The exemption takes effect October 1, 2013, if the bill is enacted, and the original acquisition cost is defined as the amount paid by the current owner to acquire the asset.

Who It Affects

• Individuals and households who own small personal property assets that originally cost $250 or less, as those assets would be exempt from ad valorem taxes.
• Local tax assessors, counties, and municipalities, which would no longer assess ad valorem tax on these exempt assets.

Key Provisions

• Amends Section 40-9-1 to add an exemption for all individual tangible taxable assets (excluding real property) with an original acquisition cost of $250 or less from ad valorem taxation.
• Defines 'original acquisition cost' as the amount paid by the current owner to acquire the asset.
• Effective date: October 1, 2013, upon passage and approval.

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

Subjects

Taxation