Department of Revenue; Forms.
The Department of Revenue shall adopt forms for the following:
(1) The designation of an account with a financial institution to serve as a first-time and second chance home buyer savings account.
(2) An account holder to annually submit to the Department of Revenue detailed information regarding the first-time and second chance home buyer savings account, including, but not limited to, a list of transactions for the account during the tax year and identifying any supporting documentation required to be maintained by the account holder.
Structure Code of Alabama
Chapter 11 - Alabama First-Time and Second Chance Home Buyer Savings Account Act.
Section 24-11-1 - Short Title.
Section 24-11-2 - Legislative Declaration.
Section 24-11-3 - Definitions.
Section 24-11-4 - Establishment and Use of First-Time and Second Chance Home Buyer Savings Account.
Section 24-11-5 - Account Holder Responsibilities.
Section 24-11-6 - Responsibilities of Financial Institutions.
Section 24-11-7 - Deduction of Contributions, Exclusion of Earnings, and Limitations.
Section 24-11-8 - Penalty for Withdrawal for Purpose Other Than Eligible Costs.