SB231 Alabama 2021 Session
Signed by Governor
Bill Summary
Sponsors
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.
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.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 17, 2021 | S | Assigned Act No. 2021-514. |
| May 17, 2021 | H | Signature Requested |
| May 17, 2021 | S | Enrolled |
| May 17, 2021 | S | Passed Second House |
| May 17, 2021 | H | Motion to Read a Third Time and Pass adopted Roll Call 1193 |
| May 17, 2021 | H | Third Reading Passed |
| May 4, 2021 | H | Read for the second time and placed on the calendar |
| April 20, 2021 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
| April 20, 2021 | S | Engrossed |
| April 20, 2021 | S | Motion to Read a Third Time and Pass adopted Roll Call 1033 |
| April 20, 2021 | S | Barfoot motion to Adopt adopted Roll Call 1032 |
| April 20, 2021 | S | Finance and Taxation Education Amendment Offered |
| April 20, 2021 | S | Third Reading Passed |
| April 15, 2021 | S | Read for the second time and placed on the calendar 1 amendment |
| February 11, 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 | SB231 Alabama 2021 Session - Enrolled |
| Bill Text | SB231 Alabama 2021 Session - Engrossed |
| Bill Text | SB231 Alabama 2021 Session - Introduced |
Source: Alabama Legislature