Alabama 2024 Regular Session

Alabama House Bill HB73 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	~~HB73ENROLLED~~
	1	+	HB73ENGROSSED
2	2		Page 0
3	3		HB73
4		-	FYV8C55-3
	4	+	FYV8C55-2
5	5		By Representatives Pettus, Crawford, Reynolds, Shaver,
6	6		Stringer, Moore (P), Shirey, Brown, Fidler, Lipscomb, Givens,
7	7		Daniels, Simpson, Shedd, Lee, Harrison, Ingram, Lovvorn,
8	8		Hulsey, Oliver, Rigsby, Ledbetter, Collins
9	9		RFD: Ways and Means General Fund
10	10		First Read: 06-Feb-24
11	11		PFD: 30-Jan-24
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20		-	9 HB73 ~~Enrolled~~
	20	+	9 HB73 Engrossed
21	21		Page 1
22	22		PFD: 30-Jan-24
23		-	Enrolled, An Act,
	23	+	A BILL
	24	+	TO BE ENTITLED
	25	+	AN ACT
24	26		Relating to ad valorem taxation; to limit the assessed
25	27		value of certain real property for ad valorem tax purposes,
26	28		with exceptions.
27	29		BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
28	30		Section 1. (a) After each county-wide reappraisal, as
29	31		provided by Article 2, Chapter 7, Title 40, Code of Alabama
30	32		1975, and the resulting assessed value of property for ad
31	33		valorem tax purposes, the tax assessor shall annually compare
32	34		the assessed value of each real property reappraised or
33	35		reassessed to the prior year's assessed value. If the assessed
34	36		value of the property increased, then the tax assessor shall
35	37		adjust the assessed value of the property pursuant to this
36	38		section.
37	39		(b)(1) Class III properties, as defined in Section
38	40		40-8-1, Code of Alabama 1975, shall be limited to not more
39	41		than a seven percent increase in the assessed value of the
40	42		property from the previous year's assessed value.
41	43		(2) Class II properties, as defined in Section 40-8-1,
42	44		Code of Alabama 1975, shall be limited to not more than a
43	45		seven percent increase in the assessed value of the property
44		-	from the previous year's assessed value.
45		-	(c) The limitations provided for in subsection (b)
46		-	shall not apply to:
47		-	(1) Real property that has never been assessed.
48		-	(2) Additions or improvements to real property,
49		-	including new construction. This shall not include repairs to
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77		-	28 HB73 ~~Enrolled~~
	73	+	28 HB73 Engrossed
78	74		Page 2
	75	+	seven percent increase in the assessed value of the property
	76	+	from the previous year's assessed value.
	77	+	(c) The limitations provided for in subsection (b)
	78	+	shall not apply to:
	79	+	(1) Real property that has never been assessed.
	80	+	(2) Additions or improvements to real property,
79	81		including new construction. This shall not include repairs to
80	82		or ordinary maintenance of an existing structure or the
81	83		grounds of the property.
82	84		(3) Change to the classification of the property.
83	85		(4) Change in ownership of the property, except for any
84	86		of the following:
85	87		a. Transfers between spouse or family members for no or
86	88		nominal consideration, including upon death of owner.
87	89		b. Transfers due to redemption after foreclosure of a
88	90		mortgage, tax sale, or tax lien.
89	91		(5) Property located in a tax increment district
90	92		created pursuant to Chapter 99 of Title 11.
91	93		(d) The limitations provided for in subsection (b)
92	94		shall be effective October 1, 2024 and shall continue through
93	95		the fiscal year beginning October 1, 2027.
94		-	Section 2. This act shall become effective on October
95		-	1, 2024.
	96	+	(e) The Alabama Department of Revenue shall analyze the
	97	+	data and assessed valuation of Class II and Class III real
	98	+	property during the most recent reappraisal periods and submit
	99	+	its findings to the Alabama Ad Valorem Advisory Committee. The
	100	+	Department and the Committee shall jointly submit findings and
	101	+	recommendations regarding the valuation impact of the cap on
	102	+	the assessed value of real property in Alabama and potential
	103	+	improvements in assessment methodology to help achieve a more
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111		-	44 HB73 Enrolled
112		-	Page 3
113		-	1, 2024.
114		-	________________________________________________
115		-	Speaker of the House of Representatives
116		-	________________________________________________
117		-	President and Presiding Officer of the Senate
118		-	House of Representatives
119		-	I hereby certify that the within Act originated in and
120		-	was passed by the House 09-Apr-24, as amended.
121		-	John Treadwell
122		-	Clerk
123		-	Senate 08-May-24 Amended and Passed
124		-	House 08-May-24 Concurred in Senate
125		-	Amendment
	119	+	44
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	131	+	56 HB73 Engrossed
	132	+	Page 3
	133	+	improvements in assessment methodology to help achieve a more
	134	+	predictable long-term process to the Governor, the Lieutenant
	135	+	Governor, the President Pro Tempore of the Senate, the Speaker
	136	+	of the House of Representatives, and to the Legislative
	137	+	Services Agency no later than December 31, 2026.
	138	+	Section 2. This act shall become effective on October
	139	+	1, 2024.
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	145	+	62 HB73 Engrossed
	146	+	Page 4
	147	+	1, 2024.
	148	+	House of Representatives
	149	+	Read for the first time and referred
	150	+	to the House of Representatives
	151	+	committee on Ways and Means General
	152	+	Fund
	153	+	................06-Feb-24
	154	+	Read for the second time and placed
	155	+	on the calendar:
	156	+	1 amendment
	157	+	................06-Mar-24
	158	+	Read for the third time and passed
	159	+	as amended
	160	+	Yeas 97
	161	+	Nays 1
	162	+	Abstains 2
	163	+	................09-Apr-24
	164	+	John Treadwell
	165	+	Clerk
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