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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2020 Alabama Legislative Regular Session
  5. 2020 Alabama House Bills
  6. HB159 Alabama 2020 Session

HB159 Alabama 2020 Session

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Contents hide
  • 1 Bill Summary
  • 2 Bill Actions
  • 3 Bill Calendar
  • 4 Bill Text
  • 5 Bill Votes
  • 6 Bill Documents

Bill Summary

Sponsors
  • Craig Lipscomb
Session
Regular Session 2020
Title
Credit Unions, financial institution excise tax, taxable income, calculation, reserve for losses deleted, assessment and refunds further provided for tax years prior to 1-1-2020, Act 2019-284, 2019 Reg. Sess., am'd; Sec. 40-16-1.3 am'd.
Description

Under current law, a financial institution doing business in Alabama is subject to the Alabama financial institution excise tax. Financial institutions operating in Alabama and other states are required to allocate and apportion their income to Alabama

This bill will clarify the calculation of taxable income for credit unions under the Alabama financial institution excise tax law and would further provide for assessments and refunds

Relating to financial institution excise tax; to update existing law to provide clarification on the calculation of taxable income for credit unions; and to further provide for assessments and refunds.

Subjects
Banks and Banking

Bill Actions

Action Date Chamber Action
March 5, 2020 S Pending third reading on day 13 Favorable from Banking and Insurance
March 5, 2020 S Read for the first time and referred to the Senate committee on Banking and Insurance
March 12, 2020 S Read for the second time and placed on the calendar
March 3, 2020 H Motion to Read a Third Time and Pass adopted Roll Call 184
March 3, 2020 H Third Reading Passed
February 20, 2020 H Read for the second time and placed on the calendar
February 6, 2020 H Read for the first time and referred to the House of Representatives committee on Financial Services

Bill Calendar

Type Date Location Description
Hearing March 11, 2020 Room 320 **Two Bills Taken off the Agenda** at 14:30 Senate B&I Hearing
Hearing March 11, 2020 Room 320 at 14:30 Senate B&I Hearing
Hearing February 19, 2020 Room 617 at 09:00 House FS Hearing
Hearing February 12, 2020 at 00:00 House FS Hearing
Hearing February 12, 2020 Room 617 at 09:00 House FS Hearing

Bill Text

Download HB159 Alabama 2020 Session PDF

Bill Votes

Motion to Read a Third Time and Pass
2020-03-03
Chamber: House
Result: Passed

Bill Documents

Type Link
Bill Text HB159 Alabama 2020 Session - Introduced

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