HB90 Alabama 2016 Session
Updated Jul 24, 2021
HB90 Alabama 2016 Session
House Bill
Expired
Current Status
Regular Session 2016
Session
1
Sponsor
Summary
- Primary Sponsor
-
Lynn GreerRepublican - Session
- Regular Session 2016
- Title
- Taxation, defined contribution deferred compensation plans, first $15,000, $30,000 of benefits exempt from state and local income taxes, Revenue Dept. authorized to adopt administrative rules, Sec. 40-18-19 am'd.
- Description
Currently, income from defined contribution deferred compensation plans is taxable as state income.
This bill would provide that $50,000 of such annual income is exempt. The exemption would be phased in over a five-year period.
- Subjects
- Taxation
Bill Actions
H
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
Bill Text
Documents
Source: Alabama Legislature