Alabama legislative update

The Alabama House of Representatives has wasted little time during this second special session. Thursday five revenue bills were passed, totaling around $107 million, for the General Fund Budget. These bills are part of a plan to add close to $180 million to the budget and keep state government open for the next fiscal year. […]

The Alabama House of Representatives has wasted little time during this second special session. Thursday five revenue bills were passed, totaling around $107 million, for the General Fund Budget. These bills are part of a plan to add close to $180 million to the budget and keep state government open for the next fiscal year. The one piece of legislation that will bring in the most money is a 25 cent per pack cigarette tax, estimated at $66 million per year.  Others include raising the car titling fee, an increase in the car rental tax, and a couple of provider fees involving pharmacies and nursing homes.

While all of these bills were very close votes, only one piece of legislation was carried over due to lack of support.  HB 21, legislation to increase the Business Privilege Tax, received late opposition from the Alabama Farmers Federation and lost several votes it would have needed to pass. At this point is does not look like that bill will come back up for a vote on the floor.

All of these bills will now move to the Senate and several are scheduled to be on committee this morning.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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