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
Relating to individual income tax; provides an income tax deduction of up to five thousand dollars per annum for contributions made to a qualifying Alabama Achieving a Better Life Experience (ABLE) savings account.
|February 2, 2021||H||Read for the first time and referred to the House of Representatives committee on Ways and Means Education|
|Bill Text||HB243 Alabama 2021 Session - Introduced|