Alabama § 40-18-386 - Reductions of Distribution for Education Trust Fund and General Fund.
Full text of Alabama Code of Alabama § 40-18-386 — Reductions of Distribution for Education Trust Fund and General Fund., with citation guidance and answers to common questions.
§ 40-18-386. Reductions of Distribution for Education Trust Fund and General Fund.
Notwithstanding the provisions of Section 40-18-376(d)(2), to the extent the investment credit is used to offset an insurance premium tax liability and a portion of the insurance premium taxes are deposited into the Education Trust Fund, the Department of Finance shall adopt rules to ensure that the credit would reduce the distribution for the Education Trust Fund. Thereafter, the credit will reduce the distributions to the state General Fund only.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 40-18-386
What does Code of Alabama § 40-18-386 cover?
Section 40-18-386 ("Reductions of Distribution for Education Trust Fund and General Fund.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 40-18-386?
A common citation format is "Code of Alabama § 40-18-386" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 40-18-386 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.