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FISCAL NOTE
House Bill 293
Committee: Ways and Means Education Sponsor: Representative Chip Brown
Analyst: Riley Aaron Date: 04/21/2023
House Bill 293 as reported by the Committee on Ports, Waterways, and Intermodal Transitt
would decrease income tax receipts to the Education Trust Fund (ETF) by an undetermined
amount by modifying the existing port credit to allow for an increased monetary value of the
existing credits, if the port user increases their base cargo volume. In addition, this bill would
increase the maximum amount of port tax credits that may be issued over the life of the program
from $12 million, under current law, to $20 million, as provided by this bill.
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 an undetermined amount.