HB276 Alabama 2015 Session

Currently, municipal utility corporations are not paying the state license tax equal to 2.2% on each $1 of gross receipts. Revenue generated by the tax is distributed to the State General Fund and to the Special Mental Health Fund. This bill will require any public, private or municipal utility corporation to pay the license tax. This bill will distribute the additional revenue generated from removing this exemption to the State General Fund. This bill will also repeal the requirement that the Alabama Municipal Electric Authority make an in-lieu-of tax payment

To amend Sections 11-50A-7, 40-21-53 and 40-21-55, Code of Alabama 1975, to require any public, private or municipal utility corporation to pay the state 2.2% license tax; to repeal the requirement that the Alabama Municipal Electric Authority make an in-lieu-of tax payment; and to provide further for the distribution of revenues received from the tax.