Under existing law, all individual tangible assets, not specifically exempt by law, are subject to ad valorem taxation.
This bill would exempt all individual tangible taxable assets with an original acquisition cost of $250 or less from ad valorem taxation.
Pending third reading on day 30 Favorable from Commerce and Small Business
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Commerce and Small Business
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 702
McGill motion to Adopt adopted Roll Call 701
McGill Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Source: Alabama Legislature