SB415 Alabama 2013 Session

Summary

Primary Sponsor

Shadrack McGill

Republican

Co-Sponsors

Paul SanfordRusty GloverBryan Taylor

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

SB415 would exempt personal tangible assets with an original cost of $250 or less from Alabama ad valorem taxes, excluding real property.

What This Bill Does

The bill amends Section 40-9-1 to add a new exemption for all individual tangible taxable assets (excluding real property) with an original acquisition cost of $250 or less from ad valorem taxation. It defines original acquisition cost as the amount paid by the current owner to acquire the asset. If enacted, these tiny personal property items would not be taxed as ad valorem property. The measure becomes effective October 1, 2013, after it passes and is approved by the governor.

Who It Affects

• Individuals or households who own personal tangible property with an original cost of $250 or less, who would no longer pay ad valorem tax on those items.
• County and state tax assessors and tax offices, which would stop assessing and collecting ad valorem tax on qualifying assets.

Key Provisions

• Adds a new exemption (Section 27) to the list of property exempt from ad valorem taxation: all individual tangible taxable assets, excluding real property, with an original acquisition cost of $250 or less.
• Defines 'original acquisition cost' as the amount paid by the current owner to acquire the tangible taxable asset.
• Establishes the effective date of the exemption as October 1, 2013, upon passage and governor's approval.

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

Subjects

Taxation