Politics | Alabama Bank News

Federal Tax Reform Highlights Ambiguities and Compliance Challenges for Alabama Banks

Board Briefs, Breaking, Politics, Publications

by James E. Long, Jr. and Bruce P. Ely Unlike most states, Alabama exempts financial institutions from its corporate income tax, choosing instead to subject these entities to its financial institution excise tax (“FIET”). While it’s not uncommon for financial institutions to encounter state ...Read More

2019 Regular Session: Week 7 Recap

Breaking, Capitol Notes, Politics, Publications

Next week could be a busy one in the State House for the Alabama Bankers Association, as three bills ABA is tracking could start moving as early as Tuesday afternoon: House Bill 419, the Financial Institution Excise Tax Reform Act, is on the House ...Read More

2019 Regular Session: Week 6 Recap

Capitol Notes, Industry Reports, Politics, Publications

The Alabama Senate had its first “shutdown” day of the 2019 session yesterday, as members of the upper chamber spent a considerable amount of time debating just one bill. Senate Bill 220, sponsored by Sen. Greg Albritton (R-Atmore) is a proposed constitutional amendment that, ...Read More

2019 Regular Session: Week 5 Recap

Breaking, Capitol Notes, Industry Reports, Legal, Politics, Publications

House Bill 419, the Financial Institution Excise Tax Reform Act, was amended and favorably reported by the House Ways & Means – General Fund Committee on Wednesday. Thanks to the good work of the bill’s sponsor, Rep. Kyle South (R-Fayette), committee members had no ...Read More

2019 Regular Session: Week 4 Recap

Capitol Notes, Legal, Politics

House Bill 419 is one of the most significant pieces of legislation in several years. Introduced on April 11 by Rep. Kyle South (R-Fayette), the 33-page bill is the culmination of nearly 12 months of work between the banking industry and the Alabama Department ...Read More

Your Organization has Grown: Now What? A Few Considerations

Board Briefs, Breaking, Legal, Politics, Publications

by Jenny McCain, Maynard Cooper & Gale As your bank grows either organically or through a merger/acquisition, it’s important to make sure the internal operations, overall organizational structure and “governance” considerations grow with it. Banking organizations that have historically operated in the $100-$200 million ...Read More

2019 Regular Session: Week 2 Recap

Breaking, Capitol Notes, Politics, Publications

So far, the 2019 Regular Session has suffered from a start-and-stop schedule. After the first legislative day on March 5, the session went into a two-week hiatus so that legislators could meet to discuss – and ultimately pass – Gov. Kay Ivey’s “Rebuild Alabama” ...Read More

2019 Regular Session: Week 1 Recap

Breaking, Capitol Notes, Industry Reports, Legal, Politics, Publications

The 2019 Regular Session has been on hiatus since gaveling in on March 5. In the meantime, a bipartisan group of legislators overwhelmingly approved Gov. Kay Ivey’s “Rebuild Alabama” plan, which provides for a gradual 10-cent increase in state gasoline taxes to pay for ...Read More

Preview of 2019 Regular Session

Breaking, Capitol Notes, Politics, Publications

March 5, 2019 — The first day of the 2019 Regular Session of the Alabama Legislature began at noon today. But unlike in most years, the big question in Montgomery is when the session’s second day will start. While nothing will become official, if ...Read More

Legislature Selects Leaders, Committees

Breaking, Capitol Notes, Politics, Publications

Important leadership and committee positions were filled by the Alabama House and Senate during the recently concluded 2019 Organizational Session. In the 105-seat state House, Rep. Mac McCutcheon (R-Monrovia) of District 25 was elected to his first full term as Speaker and Rep. Victor ...Read More

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