HB157 Alabama 2014 Session

Sponsors

Session

Regular Session 2014

Title

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

Description

<p class="bill_description"> Under existing law, all individual tangible assets, not specifically exempt by law, are subject to ad valorem taxation</p><p class="bill_description"> This bill would exempt all individual tangible taxable assets with an original acquisition cost of $250 or less from ad valorem taxation</p><p class="bill_entitled_an_act"> To amend Section 40-9-1, Code of Alabama 1975, relating to the exemption of personal property from ad valorem taxation; to exempt all individual tangible taxable assets, excluding real property, with an original acquisition cost of $250 or less from ad valorem taxation. </p>

Subjects

Taxation