Taxation, individual and corporate tax structure revised, specific tax rate, reduction of rate under certain conditions, const. amend.
Description
This bill would propose an amendment to the Constitution of Alabama of 1901, entitled the Individual Flat Tax Act of 2018, to repeal Amendment 25 of the Constitution of Alabama of 1901, now appearing as Section 211.01 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, and Amendment 225 of the Constitution of Alabama of 1901, now appearing as Section 211.04 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; to revise the individual income tax structure by providing a specific tax rate; to provide for certain tax credits and deductions under certain conditions; and to authorize the Legislature to enact general laws to implement the amendment
To propose an amendment to the Constitution of Alabama of 1901, to repeal Amendment 25 of the Constitution of Alabama of 1901, now appearing as Section 211.01 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, and Amendment 225 of the Constitution of Alabama of 1901, now appearing as Section 211.04 of the Official Recompilation of the Constitution of Alabama of 1901, as amended; to revise the individual income tax structure by providing a specific tax rate; to provide for certain tax credits and deductions under certain conditions; and to authorize the Legislature to enact general laws to implement the amendment.
Subjects
Constitutional Amendments
Bill Actions
Action Date
Chamber
Action
March 8, 2018
S
Read for the first time and referred to the Senate committee on Finance and Taxation Education