HB5 Alabama 2016 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2016
Title
Taxation, State Personnel Board, tax deferred compensation plan, created, Sec. 36-26-14 am'd.
Description
<p class="bill_description"> Under existing law, the State Personnel
Board has established a tax deferred compensation
plan for employees of the state or a municipality,
county, or other public entity electing to
participate in the plan</p><p class="bill_description">
This bill would authorize entities
participating in the plan to enroll employees in
the plan upon employment with an option to opt out
of the plan within 90 days after enrollment</p><p class="bill_entitled_an_act"> To amend Section 36-26-14, Code of Alabama 1975, as
amended by Act 2015-83, providing for the establishment of a
tax deferred compensation plan by the State Personnel Board,
to authorize entities participating in the plan to enroll
employees in the plan with provisions for the employee to opt
out under certain conditions.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 2, 2016 | H | Read for the first time and referred to the House of Representatives committee on State Government |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB5 Alabama 2016 Session - Introduced |