Committee: Finance and Taxation Education | Sponsor: Chesteen |
Analyst: John Friedenreich | Date: 04/06/2021 |
FISCAL NOTE
Senate Bill 351as introduced would reduce receipts to the Education Trust Fund (ETF) by an estimated $3.96 million annually, beginning in FY 2023, to allow individuals serving on active duty that claim Alabama as their state of legal residence, but not residing in the state to claim an income tax deduction for their active duty military pay. The loss in ETF receipts each year would depend on the number of active duty military personnel claiming this deduction and providing an annual certification of residence status to the Alabama Department of Revenue.
Arthur Orr, Chairperson Finance and Taxation Education |