Bill Summary
This bill would provide for an exclusion from Alabama income taxation for any federal tax credits or advance refunds resulting from the federal Coronavirus Aid, Relief, and Economic Security Act
To provide for an exclusion from Alabama income tax for federal tax credits or advance refunds received from the federal Coronavirus Aid, Relief, and Economic Security Act.
Bill Text
This bill would provide for an exclusion from Alabama income taxation for any federal tax credits or advance refunds resulting from the federal Coronavirus Aid, Relief, and Economic Security Act
To provide for an exclusion from Alabama income tax for federal tax credits or advance refunds received from the federal Coronavirus Aid, Relief, and Economic Security Act.
Section 1
(a) Any tax credits or advance refund amounts received as a result of the federal Coronavirus Aid, Relief, and Economic Security Act shall be excluded from Alabama individual income taxation. (b) For taxable year 2020, any tax credits or advance refund amounts received as a result of the federal Coronavirus Aid, Relief, and Economic Security Act shall also be excluded from any and all calculations in determining a taxpayer's federal income tax deduction pursuant to Section 40-18-15.
Section 2
This act shall become effective immediately following its passage and approval by the Governor, or its otherwise becoming law.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 4, 2020 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Documents
| Document Type | Document Location |
|---|---|
| Bill Text | http://alisondb.legislature.state.al.us/ALISON/SearchableInstruments/2020RS/PrintFiles/HB464-int.pdf |