SB 187

This proposed amendment would require any tax credit, exemption, deduction, or preferential tax rate enacted beginning in the 2019 Regular Session of the Legislature to expire within seven years from the effective date of the act authorizing the tax expenditure, unless extended by an act of the Legislature

Proposing an amendment to the Constitution of Alabama of 1901, to require any tax credit, exemption, deduction, or preferential tax rate enacted beginning in the 2019 Regular Session of the Legislature to expire within seven years from the effective date of the act authorizing the tax expenditure, unless extended by an act of the Legislature.

Section 1

The following amendment to the Constitution of Alabama of 1901, as amended, is proposed and shall become valid as a part thereof when approved by a majority of the qualified electors voting thereon and in accordance with Sections 284, 285, and 287 of the Constitution of Alabama of 1901, as amended: PROPOSED AMENDMENT Beginning in the 2019 Regular Session of the Legislature, any tax expenditure enacted shall expire within seven years from the effective date of the act authorizing the tax expenditure, unless extended by an act of the Legislature. For purposes of this amendment, the term "tax expenditure" shall mean any provision of law which allows a special exclusion, exemption, or deduction, or which provides a special credit or preferential tax rate that creates a loss of revenue for the state.

Section 2

An election upon the proposed amendment shall be held in accordance with Sections 284 and 285 of the Constitution of Alabama of 1901, now appearing as Sections 284 and 285 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, and the election laws of this state.

Section 3

The appropriate election official shall assign a ballot number for the proposed constitutional amendment on the election ballot and shall set forth the following description of the substance or subject matter of the proposed constitutional amendment:

Proposing an amendment to the Constitution of Alabama of 1901, to require any tax credit, exemption, deduction, or preferential tax rate enacted beginning in the 2019 Regular Session of the Legislature to expire within seven years from the effective date of the act authorizing the tax expenditure, unless extended by an act of the Legislature.

Proposed by Act ________." This description shall be followed by the following language:

Yes ( ) No ( )."