SB281 Alabama 2013 Session

Summary

Primary Sponsor

Shadrack McGill

Republican

Co-Sponsors

Paul SanfordTrip PittmanDick BrewbakerScott BeasonRusty GloverJerry L. Fielding

Session

Regular Session 2013

Title

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

Summary

SB281 directs the Department of Revenue to recalculate the composite factors used to value business personal property so the factor becomes zero in the year after the last reduction is shown.

What This Bill Does

The bill requires the Department of Revenue to recalculate the composite factors used to determine the assessed value of business personal property. The recalculation must cause the factor to reach zero in the year following the last year in which a reduction was shown. It also repeals conflicting laws and sets a specific effective date for the act to take effect.

Who It Affects

• Businesses that own or report business personal property, whose assessed value could be recalculated and potentially reduced to zero in a future year.
• The Department of Revenue (and local tax assessors) responsible for applying the recalculated composite factors and updating property assessments.

Key Provisions

• Section 1: The Department of Revenue must recalculate the composite factors so the factor reaches zero in the year after the last year a reduction in the composite factor is shown.
• Section 2: Repeals all laws or parts of laws that conflict with this act.
• Section 3: The act becomes effective on the first day of the third month after passage and governor approval (or becoming law by other means).

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