HB6 Alabama 2010 Session
Bill Summary
Under existing law, property that is sold for nonpayment of taxes may be redeemed by payment of the amount for which the land was sold, plus delinquent taxes and interest
This bill would provide that the rate of interest assessed on property sold for nonpayment of taxes would be the same as the residential mortgage rate published by the Federal Home Loan Mortgage Corporation or its successor for the month preceding the filing of the application to redeem the property
To amend Sections 40-10-121 and 40-10-122, Code of Alabama 1975, relating to interest charges on the sale and redemption of property for unpaid taxes; to provide that the rate of interest assessed on property sold for nonpayment of taxes would be the same as the residential mortgage rate published by the Federal Home Loan Mortgage Corporation or its successor for the month preceding the filing of the application to redeem the property.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 12, 2010 | Read for the first time and referred to the House of Representatives committee on Banking and Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB6 Alabama 2010 Session - Introduced |