Alabama lawmakers expanded a tax exemption for overtime pay Tuesday when they approved an executive amendment by Gov. Kay Ivey that removed a $25 million annual cap on total exemptions that can be claimed.
Alabama House Minority Leader Anthony Daniels, D-Huntsville, on the floor of the Alabama House of Representatives on Tuesday, April 18, 2023, at the State House in Montgomery, Ala. .before passing the bill Thursday . The governor sent the bill back Tuesday with the proposed amendment to remove the cap. The amendment also said the exemption will expire June 30, 2025, unless extended by the Legislature. Before the amendment, the exemption was set to expire Jan, 1, 2027 unless extended.
Daniels said the bill will be a benefit for workers because they can keep more of the money they earn and will help for businesses because it will boost productivity and encourage people to working during a time when employers are struggling to fill jobs. The exemption applies to full-time hourly workers for compensation for work of more than 40 hours a week. It applies to public and private employers. The exemption becomes available Jan. 1, 2024.
Ivey, in a memo attached to her executive amendment, said removal of the $25 million cap would mean more money for workers and make it easier for employers to administer. She said moving the expiration date 18 months sooner, to June 2025, will better enable the Legislature to monitor the impact of the exemption on the education budget. Income taxes go to the Education Trust Fund.
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