Montgomery, AL – The Alabama House has approved a bill rewriting the law concerning corporate income tax collections.
Passage of the corporate income tax measure cleared the way for the House to consider a $6.3 billion education budget Wednesday night. The budget had been stalled behind the corporate income tax bill.
The House voted 75-28 to pass the corporate tax bill, which is expected to provide about $80 million for the education budget.
Republicans used delaying tactics to stall a vote on the bill during three days of debate. Business groups have complained the corporate tax bill would unfairly require some businesses to make back tax payments.
The House also passed a bill that would give small businesses a tax break if they provide health insurance for employees. The bill would also give a tax break to small business employees who pay part of the cost of their insurance.
(Copyright 2008 by The Associated Press. All Rights Reserved.)