Taxation; to amend 40-18-14, Code of Alabama 1975, relating to overtime compensation

HB 467 removes a sunset provision that would have ended Alabama's exclusion of overtime pay from state income tax after June 30, 2025, making this exemption permanent for eligible workers. The bill directly affects hourly wage employees who receive overtime compensation under the U.S. Fair Labor Standards Act, as their overtime pay will continue to be excluded from state income tax calculations. It also requires the Alabama Department of Revenue and the Alabama Commission on the Evaluation of Services to conduct and publicly post an economic impact study on this tax exemption. Minor technical updates to the tax code language are included, but the bill's primary change is extending the overtime tax exemption indefinitely.