HB464 Alabama 2020 Session

Summary

Primary Sponsor

Arnold MooneyRepresentative

Republican

Session

Regular Session 2020

Title

Federal tax credits or advance refunds resulting from the federal Coronavirus Aid, Relief, and Economic Security Act, excluded from Alabama income tax

Summary

HB464 would exclude CARES Act tax credits or advance refunds from Alabama income tax, and for 2020, also exclude them from the calculation of the federal deduction under Alabama law.

What This Bill Does

The bill creates an exclusion from Alabama individual income tax for any federal tax credits or advance refunds received due to the CARES Act. For the 2020 tax year, it also excludes those CARES Act amounts from calculations used to determine the federal income tax deduction under Section 40-18-15. This would reduce Alabama tax liability for people who receive these federal credits/refunds and adjust the 2020 deduction calculations accordingly.

Who It Affects

• Alabama individual taxpayers who receive CARES Act tax credits or advance refunds, who would not have to include these amounts in their Alabama taxable income.
• Taxpayers filing for the 2020 tax year who use the federal income tax deduction under Section 40-18-15, whose calculation would not include CARES Act credits/refunds.

Key Provisions

• Exclude CARES Act federal tax credits or advance refunds from Alabama individual income taxation.
• For tax year 2020, exclude CARES Act credits/refunds from calculations determining the federal income tax deduction under Section 40-18-15.
• Effective immediately following passage and governor's approval.

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

Subjects

Taxation