May 25, 2013
The Alabama House has passed the first five bills in Gov. Riley's $1.2 billion package of tax bills.
One of the bills would raise the tax on pack of cigarettes from 16.5 cents to 31 cents. That bill passed the House on a 76 to 20 vote.
The House also passed a bill that would double the tax charged to record deeds and mortgages. Another bill passed by the House would levy a $1.00 tax on every $1,000 of stocks, bonds and other intangibles beyond $100,000 for individual taxpayers and $200,000 for joint taxpayers.
The five bills were among the first bills to come up in the House in a special session to consider Riley's package of tax and accountability bills. The governor is trying to fill an anticipated almost $700 million deficit in next year's state budgets and to create additional revenue for future years.
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