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Wednesday, June 7, 2023

Alabama lawmakers change tax rebate again, approve $150 for individuals, $300 for couples

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.

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