SB332 Alabama 2011 Session

Updated Jul 26, 2021

Senate Bill

In Committee

Current Status

Regular Session 2011

Session

8

Summary

Primary Sponsor: Tammy Irons
Democrat
Co-Sponsors: William “Bill” M. Beasley Quinton Ross Linda Coleman-Madison Priscilla Dunn Bobby D. Singleton George M. “Marc” Keahey Jerry L. Fielding
Session: Regular Session 2011
Title: Redemption of land sold for taxes, interest rate reduced only on tax amount due on date of sale, Sec. 40-10-122 am'd.
Description: Under existing law, a person redeeming land sold at a tax sale to one other than the state is required to pay interest on the tax due and on the excess bid at the tax sale.
This bill would require the person desiring to redeem the land to deposit with the judge of probate the amount for which the land was sold, with interest payable only on the amount of tax due on the date of the sale.
This bill would reduce the interest payable on land sold for unpaid tax, insurance premiums, permanent improvements, and the value of all preservation improvements.
This bill would provide for retroactive effect.
Subjects: Property, Real and Personal

Read for the first time and referred to the Senate committee on Governmental Affairs