HB692 Alabama 2013 Session

Summary

Primary Sponsor

Oliver Robinson

Democrat

Session

Regular Session 2013

Title

Tax, tax abatement for asbestos removal, Asbestos Tax Abatement Act

Summary

The bill would create an Asbestos Tax Abatement Act to offer tax relief to encourage the removal of asbestos from older structures.

What This Bill Does

It would grant tax abatements for the removal of asbestos from a qualified structure, covering noneducational ad valorem taxes, construction-related transaction taxes, and mortgage/recording taxes, with limits. Educational taxes cannot be abated, and the structure must be at least 25 years old and used for specified purposes. If the removal work is subcontracted to a licensed asbestos contractor, only the portion of work performed by that contractor counts toward the abatement; the Department of Revenue would implement the program through rules, and the act takes effect October 1, 2014.

Who It Affects

• Property owners or taxpayers who remove asbestos from a qualified structure may receive tax abatements on certain taxes.
• Asbestos removal contractors and the Department of Revenue (and local tax authorities) who administer and implement the program; contractors' eligible work may be limited to the portion performed by licensed asbestos workers.

Key Provisions

• Creates the Asbestos Tax Abatement Act to grant tax abatements for asbestos removal.
• Defines key terms: asbestos, asbestos material, asbestos removal, qualified structure, and related concepts.
• Allows abatement of noneducational ad valorem taxes up to 20 years; permits abatement of construction-related taxes only until the structure is placed in service for federal tax purposes; educational taxes may not be abated.
• Allows abatement of mortgage and recording taxes for removal projects by following procedures in the act.
• If asbestos removal is subcontracted to a licensed asbestos contractor, only the part of the work performed by that contractor is considered the asbestos removal project.
• Requires the Department of Revenue to adopt rules to implement and administer the act.
• Defines that a qualified structure must be used for specified purposes and placed in service at least 25 years before the tax year in which the credit is claimed.
• The act becomes effective October 1, 2014.

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

Subjects

Environment