SB262 Alabama 2014 Session
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Bill Summary
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
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 2, 2014 | H | Pending third reading on day 30 Favorable from Commerce and Small Business |
| April 2, 2014 | H | Read for the second time and placed on the calendar |
| March 6, 2014 | H | Read for the first time and referred to the House of Representatives committee on Commerce and Small Business |
| March 6, 2014 | S | Engrossed |
| March 5, 2014 | S | Motion to Read a Third Time and Pass adopted Roll Call 702 |
| March 5, 2014 | S | McGill motion to Adopt adopted Roll Call 701 |
| March 5, 2014 | S | McGill Amendment Offered |
| March 5, 2014 | S | Third Reading Passed |
| February 25, 2014 | S | Read for the second time and placed on the calendar |
| January 22, 2014 | S | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB262 Alabama 2014 Session - Introduced |
| Bill Text | SB262 Alabama 2014 Session - Engrossed |