SB363 Alabama 2021 Session

Summary

Primary Sponsor

Clay Scofield

Republican

Session

Regular Session 2021

Title

Taxation, sales tax revenue, distribution and expenditure of further provided, Sec. 40-23-35 am'd.

Description

Under existing law, the distribution of the revenues from the imposition of the sales tax discount are determined by a formula which could vary from year to year without a cap on the maximum amount. Any remainder is deposited into the General Fund.

This bill would eliminate the formula and cap the revenues at a specific amount to provide more certainty as to the funds available for deposit into the state General Fund.

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Subjects

Taxation