SB48 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 phase-in a reduction in the top tax rate from five percent to four and ninety-five hundredths percent.
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
This bill would phase in a reduction in the top tax rate from five percent to four and ninety-five hundredths percent
Relating to individual income taxes; to amend Section 40-18-5, Code of Alabama 1975, to phase-in a reduction in the top tax rate from five percent to four and ninety-five hundredths percent.
Subjects
Taxation and revenue, individual income tax rate reduced
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 U8YLXD-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 | SB48 Alabama 2023 Session - Introduced |
| Bill Amendments | Senate Reported Favorably |
| Fiscal Note | Fiscal Note - As Introduced |
| Fiscal Note | Fiscal Note - As Passed First Chamber Committee |