WINSTON COUNTY - Governor Kay Ivey on Thursday signed Senate Bill 76, sponsored by Senator Del March, which provides the largest tax break in more than a decade to middle-class Alabamians.
The new law raises the threshold for claiming the maximum exception for state income taxes. For married couples filing jointly, heads of households, and single filers, the income threshold would be raised from $20,000 to $23,000. For married individuals filing separately, the threshold would be raised from $10,000 to $10,500. The overall impact of the bill is projected to be a $40 million savings for taxpayers over the next 10 years.
The Alabama Senate unanimously passed the bill in January and the Alabama House, led by the House sponsor Representative Reed Ingram, unanimously passed the bill on March 8, sending it to the Governor for her signature. Senator Del Marsh sponsored the legislation in the Senate and was instrumental in seeing the bill through the legislative process.
The act became effective immediately upon signature by the governor.
See complete story in the Northwest Alabamian.