Individual income taxes, to allow an exclusion from gross income for contributions to Trump Accounts and to make permanent the exclusion for amounts paid by an employer on any qualified education loan

SB 79 would amend Alabama's tax code to exclude employer contributions to "Trump Accounts" from an employee's taxable income, currently required to be included under federal law. It also makes permanent an existing exclusion for employer-paid amounts toward qualified education loans, which was set to expire. These changes directly affect Alabama individual taxpayers who receive such employer benefits. The bill updates Section 40-18-14 of the Alabama Code to reflect these tax exclusions without altering other tax provisions.