AAR Capitol News

Governor Bentley Vetoes General Fund Budget but Legislators Override Veto, Alabama Historic Rehabilitation Tax Credit Bill Passes House with Friendly Amendment & More From Week 9 of the Legislative Session!

Governor Bentley Vetoes the General Fund Budget but Legislators Override Veto

As expected, Governor Bentley vetoed the 2017 State General Fund Budget because it did not provide adequate funding for Medicaid. READ MORE HERE.

Education Trust Fund on Senate Committee Agenda This Week 

A public hearing has been scheduled this week for the 2017 Education Trust Fund in the Senate committee on Finance and Taxation Education. Only 10 more legislative days remain in the 2016 Legislative Session. The Senate must pass the 2017 Education Trust Fund Budget prior to adjournment. The Education Trust Fund was passed by the House several weeks ago.

Alabama Historic Rehabilitation Tax Credit Bill Passes the House with Friendly Amendment

The Alabama Historic Rehabilitation Tax Credit Extension Bill, HB 62, sponsored by Rep. Victor Gaston (R-Mobile) and Rep. David Faulkner (R-Birmingham), passed the House of Representatives last week by a vote of 91 - 4. READ MORE HERE.

Wind Mitigation Construction Finance Bill Receives a Favorable Report in Both House and Senate Committees

HB 430, sponsored by Representative David Sessions (R-Grand Bay), would authorize insurance finance companies to provide financing for wind mitigation construction charges with the approval of the State Insurance Commissioner. READ MORE HERE.

Uniform Condominium Act Bill Passes Senate Committee 

HB 189, sponsored by Rep. Randy Davis (R-Daphne), would amend the Uniform Condominium Act to clarify escrow and building costs, would specify the conditions of escrow deposit and would require written notice in the contract that deposits may be used under certain conditions when purchasing or selling a condominium. READ MORE HERE.

Alabama REALTORS® and Homeowners Matter  

Please continue to support the Alabama Homes Matter Campaign! The Alabama REALTORS® and the National Association of REALTORS® launched the Alabama Homes Matter Campaign to protect the American dream of homeownership in Alabama. This campaign supports the Mortgage Interest Deductions, no additional tax increases on the Deed and Mortgage Recording fees and no additional taxes to homeowners. To sign the petition and to encourage Alabama lawmakers to defend homeowners, CLICK HERE.

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