HB162 Alabama 2021 Session

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

Bill Summary

Sponsors

Session

Regular Session 2021

Title

Lease tax exemptions, to allow lessor to pass lease tax on to lessee, with exceptions, to provide for a lease tax exemption for lease transactions lasting 180 days or more with certain entities, and make technical revisions to code, Secs. 40-12-222, 40-12-223 am'd.

Description

This bill would provide for a lease tax exemption for a lease transaction that lasts for a period of at least 180 days and involves certain entities

This bill would also remove a restriction that a lessor may not pass a lease tax on to a lessee except under certain circumstances

This bill would also make nonsubstantive, technical revisions to update the existing code language to current style

Relating to lease tax exemptions; to amend Section 40-12-222, as last amended by Act 2019-89, 2019 Regular Session, and Section 40-12-223, Code of Alabama 1975; to remove the restriction that a lessor may not pass a lease tax on to a lessee except under certain circumstances; to provide a lease exemption for a lease transaction that lasts for a period of at least 180 days and involves certain entities; and to make nonsubstantive, technical revisions to update the existing code language to current style.

Subjects

Lease Tax

Bill Actions

Action Date	Chamber	Action
February 23, 2021	S	Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
February 23, 2021	H	Motion to Read a Third Time and Pass adopted Roll Call 103
February 23, 2021	H	Third Reading Passed
February 3, 2021	H	Read for the second time and placed on the calendar
February 2, 2021	H	Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund