SB218 Alabama 2021 Session
Bill Summary
Under existing law, the sale of gold, silver, platinum, and palladium bullion, or money is exempt from sales and use tax until June 1, 2023.
Also under existing law, entities receiving the tax exemption are required to report certain information to the Department of Revenue.
This bill would amend the definition of bullion, would extend the expiration date for the sales and use tax exemption, and repeal the reporting requirements.
To amend Section 40-23-4, as last amended by Act 2019-444, 2019 Regular Session, and Section 40-9-61, relating to sales and use tax exemptions; to amend the definition of bullion; to extend the exemption from sales and use tax for the gross proceeds from the sales of gold, silver, platinum, and palladium bullion, and money; and to delete reporting requirements.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 6, 2021 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
| April 6, 2021 | S | Motion to Read a Third Time and Pass adopted Roll Call 766 |
| April 6, 2021 | S | Third Reading Passed |
| March 11, 2021 | S | Read for the second time and placed on the calendar |
| February 10, 2021 | S | Read for the first time and referred to the Senate committee on Finance and Taxation Education |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB218 Alabama 2021 Session - Introduced |
Source: Alabama Legislature