To amend Section 40-9-12, Code of Alabama 1975, regarding tax exemptions, to change the name of the National Foundation to reflect its current name, the March of Dimes Inc.
Impact
The amendment is significant as it updates the legal terminology used in Alabama law to ensure it aligns with the current designation of the organization. By officially recognizing the name change, the legislation supports the continued operation of March of Dimes as a recognized nonprofit entity. This is important for maintaining their exempt status, which plays a crucial role in funding their programs and services aimed at improving maternal and infant health across the state.
Summary
SB115 aims to amend Section 40-9-12 of the Code of Alabama 1975 to reflect the current name of the National Foundation as the March of Dimes Inc. This change is primarily administrative but has implications for the tax exemptions currently granted to the organization under state law. The bill reaffirms the existing tax exemption for the March of Dimes and similar charitable organizations, ensuring these entities remain tax-exempt on state, county, and municipal levels.
Contention
While the bill has passed unanimously with no recorded opposition, administrative changes such as this can raise discussions among stakeholders regarding the need for ongoing review of tax exemptions for nonprofit organizations. Some lawmakers may argue for periodic assessments of the effectiveness and necessity of tax exemptions for various charities to ensure that state resources are allocated efficiently. However, the broad support for SB115 suggests that there is consensus on the importance of maintaining the March of Dimes’ operational capabilities in Alabama.
Alabama Business and Nonprofit Entities Code; amended to delete references to Alabama Nonprofit Corporation Law, clarify and streamline certain provisions in accordance with changes in Delaware law and the Model Business Corporation Act