Alabama § 40-18-386 Reductions of Distribution for Education Trust Fund and General Fund

Alabama Statutes

§ 40-18-386 — Reductions of Distribution for Education Trust Fund and General Fund

Alabama § 40-18-386

Title 40Revenue and Taxation

Ch. 18Income Taxes

Art. 16Alabama Jobs Act

This text of Alabama § 40-18-386 (Reductions of Distribution for Education Trust Fund and General Fund) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 40-18-386 (2026).

Text

Notwithstanding the provisions of Section 40-18-376(d)(2), to the extent the investment credit is used to offset an insurance premium tax liability and a portion of the insurance premium taxes are deposited into the Education Trust Fund, the Department of Finance shall adopt rules to ensure that the credit would reduce the distribution for the Education Trust Fund. Thereafter, the credit will reduce the distributions to the state General Fund only.

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Notwithstanding the provisions of Section 40-18-376(d)(2), to the extent the investment credit is used to offset an insurance premium tax liability and a portion of the insurance premium taxes are deposited into the Education Trust Fund, the Department of Finance shall adopt rules to ensure that the credit would reduce the distribution for the Education Trust Fund. Thereafter, the credit will reduce the distributions to the state General Fund only.