Published On: May 26th, 2023Categories: Alabama News

Alabama lawmakers gave final approval to a tax rebate for Alabama taxpayers tonight, passing a bill that will provide $150 for individuals and $300 for couples filing jointly.

The House and Senate concurred on the bill that was a compromise between earlier versions.

The bill, SB86 by Sen. Arthur Orr, R-Decatur goes to Gov. Kay Ivey, who can sign it into law.

Ivey proposed a rebate of $400 for individuals and $800 for couples during her State of the State address in March. The Senate changed that to $105 for individuals and $210 for couples. This morning, the House passed a version to double that to $210 for individuals and $420 for couples.

A conference committee settled on the amount approved tonight. The rebates will go to taxpayers who filed a state income tax return last year for 2021.

The rebates will cost about $393 million. The money will come from a $2.8 billion surplus in the Education Trust Fund. Lawmakers are allocating the rest of the surplus in a separate bill.

Source link

Lawmakers approve tax rebates of $150 for individuals, $300 for coupl… , Mike Cason , 2023-05-26 02:34:59 , ,, [rule_{ruleNumber}] , [rule_{ruleNumber}_plain] , , , , , , #Lawmakers #approve #tax #rebates #individuals #coupl..

Leave A Comment