The bill HB269 Engrossed amends Sections 40-23-4 and 40-12-223 of the Code of Alabama 1975 to revise sales and use tax exemptions related to aircraft and parts, as well as lease tax exemptions for aircraft not domiciled in Alabama. It introduces new legal language that expands exemptions to include gross receipts from the lease of certain aircraft that are not based in the state, thereby incentivizing the leasing of these aircraft. Additionally, the bill removes outdated provisions concerning sales and use tax exemptions for various agricultural products and services, streamlining the focus on aircraft-related exemptions. This legislative change aims to enhance Alabama's aviation sector's competitiveness and foster economic growth.

Furthermore, the bill includes provisions that enhance funding for educational programs aimed at improving student outcomes in underperforming schools, supporting initiatives such as tutoring and teacher training. It also deletes previous language that limited resource allocation to certain districts, allowing all districts, especially those in greatest need, to access necessary resources for improving educational quality. Overall, HB269 seeks to create a more equitable educational landscape while refining tax exemptions to benefit specific industries, particularly aviation and education.

Statutes affected:
Introduced: 40-23-4
Engrossed: 40-23-4