Hearing
Senate Finance and Taxation Education Hearing
Finance and Taxation at 10:00:00
HB250 Alabama 2026 Session
Updated Apr 17, 2026
Notable
Summary
- Primary Sponsor
Danny GarrettRepresentativeRepublican- Session
- 2026 Regular Session
- Title
- Individual income taxes, to allow an exclusion from gross income for contributions to Trump Accounts and to make permanent the exclusion for amounts paid by an employer on any qualified education loan.
- Description
Under current law, any contributions made by an employer to a Trump Account on behalf of an employee, or dependent of an employee pursuant to 26 U.S.C. § 530A, shall be included in gross income of the employee.
Under expiring law, an individual taxpayer is allowed an exclusion from gross income for amounts paid by their employer on any qualified education loan pursuant to 26 U.S.C. § 127(c)(1)(B).
This bill would exclude contributions by the employer to Trump Accounts from the gross income of an individual taxpayer and make the exclusion for amounts paid by an employer on qualified education loans permanent for individual taxpayers.
- Subjects
- Taxation & Revenue
Bill Actions
H
Enacted
H
Enacted
H
Delivered to Governor
S
Signature Requested
H
Enrolled
H
Ready to Enroll
S
Motion to Read a Third Time and Pass - Adopted Roll Call 1219
S
Third Reading in Second House
S
Read for the Second Time and placed on the Calendar
S
Reported Out of Committee Second House
S
Pending Senate Finance and Taxation Education
S
Read for the first time and referred to the Senate Committee on Finance and Taxation Education
H
Motion to Read a Third Time and Pass - Adopted Roll Call 395
H
Third Reading in House of Origin
H
Read for the Second Time and placed on the Calendar
H
Reported Out of Committee House of Origin
H
Pending House Ways and Means Education
H
Read for the first time and referred to the House Committee on Ways and Means Education
Calendar
Hearing
House Ways and Means Education Hearing
Room 200 at 09:00:00
Bill Text
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Votes
Motion to Read a Third Time and Pass - Roll Call 395
Yes
84
Abstained
18
Absent
2
Third Reading in House of Origin
Yes
97
Abstained
5
Absent
2
HBIR: Passed by House of Origin
Yes
97
Abstained
5
Absent
2
Motion to Read a Third Time and Pass - Roll Call 1219
Yes
26
No
6
Absent
3
Third Reading in Second House
Yes
34
Absent
1
SBIR: Passed by Second House
Yes
34
Absent
1
Documents
Bill Text (Introduced)
HB250 Alabama 2026 Session - Introduced
Bill Text (Enrolled)
HB250 Alabama 2026 Session - Enrolled
Fiscal Note
Fiscal Note - Introduced
Fiscal Note
Fiscal Note - Passed First Chamber
Source: Alabama Legislature