Amendment vs bill Ways and Means Education Amendment 8MQJFF-1 vs Engrossed

Struck = removed from the bill · added = the amendment's new text.

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HB116 ENGROSSED OZZTWW-2 By Representative Garrett RFD:
8MQJFF-1 :
Ways and Means Education First Read:
3/29/2023 :
21-Mar-23 Page 0 HB116 Engrossed 2 4 6 A BILL TO BE ENTITLED AN ACT Relating to individual income taxes;
JTM AMENDMENT TO HB116 OFFERED BY WAYS AND MEANS EDUCATION OFFERED IN COMMITTEE BY TERRI COLLINS 2 4 Replace lines 38 through 39 on page 2 with the following:
to amend Section 40-18-5, Code of Alabama 1975, to eliminate the two percent tax rate on the first five hundred dollars ($500) of taxable income for single persons, heads of families, and married persons filing separate returns and would also eliminate the two percent tax rate on the first one thousand dollars ($1,000) of taxable income for married persons filing a joint return.
hundred dollars ($500) through tax year 2023.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Beginning with tax year 2024, taxable income not in excess of five hundred Replace lines 48 through 49 on page 2 with the following:
Section 1.
thousand dollars ($1,000) through tax year 2023.
Section 40-18-5, Code of Alabama 1975, is amended to read as follows:
Beginning with tax year 2024, taxable income not in excess of one Page 1
"§40-18-5 The tax levied and imposed by Section 40-18-2 shall be computed as follows:
(1) For a single person, head of family, or married persons filing separate returns:
a.
Two percent of taxable income not in excess of five hundred dollars ($500) through tax year 2022 2023.
Beginning with tax year 2023 2024, taxable income not in excess of five Page 1 HB116 Engrossed hundred dollars ($500) shall be exempt.
b.
Four percent of taxable income in excess of five hundred dollars ($500) and not in excess of three thousand dollars ($3,000).
c.
Five percent of taxable income in excess of three thousand dollars ($3,000).
(2) For married persons filing a joint return:
a.
Two percent of taxable income not in excess of one thousand dollars ($1,000) through tax year 2022 2023.
Beginning with tax year 2023 2024, taxable income not in excess of one thousand dollars ($1,000) shall be exempt.
b.
Four percent of taxable income in excess of one thousand dollars ($1,000) and not in excess of six thousand dollars ($6,000).
c.
Five percent of taxable income in excess of six thousand dollars ($6,000)." Section 2.
This act shall become effective on the first day of the third month following its passage and approval by the Governor, or its otherwise becoming law.
Page 2 HB116 Engrossed House of Representatives Read for the first time and referred ................21-Mar-23 to the House of Representatives committee on Ways and Means Education Read for the second time and placed ................05-Apr-23 on the calendar:
amendment Read for the third time and passed ................06-Apr-23 as amended Yeas 105 Nays 0 Abstains 0 John Treadwell Clerk Page 3