FISCAL NOTE

Senate Bill 231 as passed the Senate would provide an individual income tax deduction of up to $5,000 annually on contributions made on or after January 1, 2021 to an Alabama Achieving a Better Life Experience (ABLE) account. Based upon the number of existing accounts, this could reduce receipts deposited into the Education Trust Fund by an estimated $90,000 annually. This deduction would sunset on December 31, 2025, unless extended by an act of the Legislature.