Lawmakers passed a number of bills that could have a big impact on the state's small businesses
The Alabama legislature ended its regular session on May 9. Here’s a look at some of the bills that passed in this year’s session that could have a big impact on Alabama’s small businesses:
Property Tax Assessment Cap (HB 73)
HB 73 by Rep. Phillip Pettus (Killen) caps annual property tax appraisals at 7% for three years for residential and commercial property. The Legislature will need to renew the cap after 2027.
Tax Conformity (HB 187)
HB 187 by Rep. David Faulkner (Birmingham) extends the due date for an Alabama electing pass-through entity to make the election for tax years beginning January 1, 2024. The due date for the election corresponds with the Alabama annual return, including extensions.
Annual Report Repealed (HB 230)
HB 230 by Rep. Margie Wilcox (Mobile) and Rep. Kerry Underwood (Tuscumbia) repealed the annual report filed with the Alabama Secretary of State along with the $10 fee is repealed effective Oct. 1, 2024, eliminating a government filing requirement.
Childcare Tax Credit (HB 358)
HB 358 by Rep. Anthony Daniels (Huntsville) provides an employer tax credit, provider tax credit and non-profit tax credit with a special provision for small businesses with fewer than 25 employees. The bill includes a reserve for rural areas.
Asbestos Litigation Reform (SB 104)
SB 104 by Sen. Josh Carnley (Ino) provides that within 45 days of filing an asbestos action, the plaintiff must provide the parties with an information form attested by the plaintiff specifying the basis for each claim against each defendant, including detailed exposure history information and the names of individuals who are knowledgeable about the plaintiff’s exposure to asbestos. The legislation allows a defendant in an asbestos action to be dismissed from the action if not identified as required, effective Oct. 1, 2024.
State Public Health Officer (SB 128)
SB 128 by Sen. Tim Melson (Florence) changes the selection process for appointing the State Health Officer. The Governor will appoint a State Health Officer from a list of candidates submitted by the State Committee of Public Health. The bill removes the synonymous relationship between the Medical Association for the State of Alabama (MASA) and the Committee on Public Health. The State Board of Health will be abolished, and all powers and duties will be transferred to the State Committee on Public Health.
