HB157 Alabama 2014 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2014
Title
Taxation, exempt tangible assets, exempt real property whose original acquisition cost was less than $250.00, Sec. 40-9-1 am'd.
Description
Under existing law, all individual tangible assets, not specifically exempt by law, are subject to ad valorem taxation
This bill would exempt all individual tangible taxable assets with an original acquisition cost of $250 or less from ad valorem taxation
To amend Section 40-9-1, Code of Alabama 1975, relating to the exemption of personal property from ad valorem taxation; to exempt all individual tangible taxable assets, excluding real property, with an original acquisition cost of $250 or less from ad valorem taxation.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 14, 2014 | H | Read for the first time and referred to the House of Representatives committee on Commerce and Small Business |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB157 Alabama 2014 Session - Introduced |