Individual income taxes, to allow an exclusion from gross income for contributions to Trump Accounts and to make permanent the exclusion for amounts paid by an employer on any qualified education loan.

Summary

HB 250 amends Alabama’s income‑tax code so that any contribution an employer makes to a Trump Account for an employee is excluded from the employee’s gross income. It also converts the temporary exclusion for employer‑paid qualified education loans into a permanent provision. The changes affect individual taxpayers and require employers to submit overtime‑pay data to the Department of Revenue.

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