Alabama HB480 revises the distribution of simplified sellers use tax proceeds to local boards of education.

Alabama HB480 amends the distribution of simplified sellers use tax proceeds, requiring counties and municipalities to allocate a portion to local boards of education. Specifically, 20% of proceeds go to counties and 30% to municipalities, distributed based on population. Counties and municipalities must distribute at least 25% of their proceeds to local boards of education, unless they opt out by resolution or ordinance before October 1, 2027. The remaining proceeds are allocated to the State General Fund and Education Trust Fund.

Alabama HB480 revises the distribution of simplified sellers use tax proceeds to local boards of education.

Alabama HB480 amends the distribution of simplified sellers use tax proceeds, requiring counties and municipalities to allocate a portion to local boards of education. Specifically, 20% of proceeds go to counties and 30% to municipalities, distributed based on population. Counties and municipalities must distribute at least 25% of their proceeds to local boards of education, unless they opt out by resolution or ordinance before October 1, 2027. The remaining proceeds are allocated to the State General Fund and Education Trust Fund.