The department shall report to the Fiscal Division of the Legislative Services Agency on an annual basis the total annual number of deductions claimed and total amount of deposits deducted pursuant to this chapter, the number of taxpayers who submitted an account to the department pursuant to Section 24-11-5(a)(3), and the number of taxpayers who claimed a first-time and second chance home buyer deduction that did not expend the funds pursuant to Section 24-11-7(e), or were subjected to the penalty provisions of Section 24-11-8.
Ala. Code § 24-11-10
Annual Report.
Known as the Alabama First-time and Second Chance Home Buyer Savings Account Act
The act spans §§ 24-11-1 to 24-11-9 (10 sections).
(Act 2018-467, §10; Act 2022-223, §1.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.