FISCAL NOTE

House Bill 253 (Act 2022-298) as enacted would decrease income tax receipts to the Education Trust Fund (ETF) by an estimated $3.6 million annually by allowing certain qualified firefighter and rescue squad members to claim an annual income tax credit of either $300 or $600, dependent upon the certification or license held by the firefighter or rescue squad member, and contingent upon the annual certification of meeting certain training requirements. The tax exemption provided by this act would be available beginning with the 2023 tax year through the 2027 tax year, unless extended by an act of the Legislature.

Pursuant to the provisions of the ETF Rolling Reserve Act contained in Section 29-9-3(b)(3), Code of Alabama 1975, the provisions of this act will reduce the ETF fiscal year appropriation cap for fiscal year 2024 by $3.6 million.