SB326 Alabama 2023 Session

Summary

Primary Sponsor

April Weaver Senator

Republican

Session

Regular Session 2023

Title

Relating to rural hospitals; to provide for funding of rural hospitals by creating the Rural Hospital Investment Program; to establish a governing board to administer the program, to provide for a state income tax credit in exchange for donations to rural hospitals; and to provide for coordination with the Department of Revenue.

Description

This bill would set up a Rural Hospital Investment Program to act as an institutional conduit for financial support from the public for rural hospitals in the State of Alabama.

This bill would incentivize donations to rural hospitals by creating a tax credit for individuals and entities to offset their state income tax liability.

Hospitals would use the gifts to pay for their provision of acute care to rural populations. These funds may be used not only for direct care and operational expenses, but may include expenditures to maintain or upgrade facilities.

This bill would establish a board within the Office of State Treasurer to determine the eligibility of rural hospitals to receive donations qualifying for the tax credit and to operate the program with the support of the Department of Revenue.

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Subjects

Establishing a tax credit for financial support of rural hospitals