HB63 Alabama 2016 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2016
Title
Taxation, defined contribution deferred compensation plans, 90 percent of income exempt from tax, Sec. 40-18-19 am'd.
Description
Currently, income from defined contribution deferred compensation plans is taxable as income
This bill would provide that 90 percent of such income is exempt
To amend Section 40-18-19, Code of Alabama 1975, as amended by Act 2015-442, relating to exemptions from state income taxation; to provide that 90 percent of income from defined contributions deferred compensation plans is exempt from income taxation.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 2, 2016 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB63 Alabama 2016 Session - Introduced |