HB243 Alabama 2021 Session
Updated May 6, 2021
Summary
- Primary Sponsor
Danny GarrettRepresentativeRepublican- Session
- Regular Session 2021
- Title
- Taxation, individual income tax, income tax deduction up to five thousand dollars per annum for contributions made to Alabama Achieving a Better Life Experience (ABLE) savings account, Sec. 40-18-15.8 added
- Description
Under current law, contributions to an Alabama Achieving a Better Life Experience (ABLE) savings account are not deductible from taxable income on an Alabama individual income tax return.
This bill provides a deduction for contributions made to an Alabama ABLE savings account from taxable income in an amount of up to five thousand dollars per annum.
- Subjects
- Taxation
Bill Actions
H
Indefinitely Postponed
H
Read for the second time and placed on the calendar
H
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
Bill Text
Documents
Source: Alabama Legislature