HB177 Alabama 2020 Session

Summary

Primary Sponsor

Andrew SorrellAuditor

Republican

Session

Regular Session 2020

Title

Taxation, ad valorem tax, virtual currency exempt from ad valorem tax, const. amend.

Summary

This bill proposes a constitutional amendment to exempt virtual currency from Alabama's ad valorem taxes.

What This Bill Does

If passed, virtual currency would be exempt from state, county, and local ad valorem taxation. It defines virtual currency and enshrines the exemption in the Alabama Constitution, removing property tax liability for holders of virtual currency. An election would be held to approve the amendment.

Who It Affects

• Owners and holders of virtual currency in Alabama would not owe ad valorem taxes on their holdings.
• Local taxing authorities (state, county, and city/county property tax collectors) would no longer assess or collect ad valorem taxes on virtual currency.

Key Provisions

• Defines 'virtual currency' as a digital representation of value (not the U.S. dollar or foreign currency) that functions as a unit of account, store of value, and/or a medium of exchange.
• Exempts virtual currency from state, county, and local ad valorem taxation.
• Constitutes a proposed amendment to the Alabama Constitution of 1901 and requires voter approval in an election.
• Provides the ballot language and election-related description for voters to consider.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Constitutional Amendments