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SB231 Alabama 2021 Session

Updated May 27, 2021

Summary

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

S

Assigned Act No. 2021-514.

H

Signature Requested

S

Enrolled

S

Passed Second House

H

Motion to Read a Third Time and Pass adopted Roll Call 1193

H

Third Reading Passed

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

S

Engrossed

S

Motion to Read a Third Time and Pass adopted Roll Call 1033

S

Barfoot motion to Adopt adopted Roll Call 1032

S

Finance and Taxation Education Amendment Offered

S

Third Reading Passed

S

Read for the second time and placed on the calendar 1 amendment

S

Read for the first time and referred to the Senate committee on Finance and Taxation Education

Bill Text

Votes

SBIR: Barfoot motion to Adopt Roll Call 1031

April 20, 2021 Senate Passed
Yes 28
Absent 6

Barfoot motion to Adopt Roll Call 1032

April 20, 2021 Senate Passed
Yes 28
Absent 6

Motion to Read a Third Time and Pass Roll Call 1033

April 20, 2021 Senate Passed
Yes 29
Absent 5

HBIR: Garrett motion to Adopt Roll Call 1192

May 17, 2021 House Passed
Yes 100
Absent 3

Motion to Read a Third Time and Pass Roll Call 1193

May 17, 2021 House Passed
Yes 102
Absent 1

Documents

Source: Alabama Legislature