SB47 Alabama 2023 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2023
Title
Relating to individual income taxes; to amend Section 40-18-5, Code of Alabama 1975, to eliminate the two percent tax rate on the first five hundred dollars ($500) of taxable income for single persons, heads of families, and married persons filing separate returns and would also eliminate the two percent tax rate on the first one thousand dollars ($1,000) of taxable income for married persons filing a joint return.
Description
<p class="bill_description">
Under existing law, Alabama levies an individual
income tax at rates ranging from two percent on taxable
income to a top rate of five percent on taxable income</p><p class="bill_description"> This bill would eliminate the two percent tax
rate on the first five hundred dollars ($500) of
taxable income for single persons, heads of families,
and married persons filing separate returns and would
also eliminate the two percent tax rate on the first
one thousand dollars ($1,000) of taxable income for
married persons filing a joint return</p><p class="bill_entitled_an_act"> Relating to individual income taxes; to amend Section
40-18-5, Code of Alabama 1975, to eliminate the two percent
tax rate on the first five hundred dollars ($500) of taxable
income for single persons, heads of families, and married
persons filing separate returns and would also eliminate the
two percent tax rate on the first one thousand dollars
($1,000) of taxable income for married persons filing a joint
return.
SB47 INTRODUCED
</p>
Subjects
Taxation and revenue, individual income tax lowest bracket eliminated
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 22, 2023 | S | Read Second Time in House of Origin |
| March 22, 2023 | S | Reported Out of Committee in House of Origin |
| March 22, 2023 | S | Reported Favorably from Senate Finance and Taxation Education |
| March 21, 2023 | S | Amendment/Substitute by Senate Finance and Taxation Education NNZDTJ-1 |
| March 7, 2023 | S | Introduced and Referred to Senate Finance and Taxation Education |
| March 7, 2023 | S | Read First Time in House of Origin |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | March 22, 2023 | Finance and Taxation at 11:00 | Senate Finance and Taxation Education Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB47 Alabama 2023 Session - Introduced |
| Bill Amendments | Senate Reported Favorably |
| Fiscal Note | Fiscal Note - As Introduced |
| Fiscal Note | Fiscal Note - As Passed First Chamber Committee |