Under existing law, a person who presents a deed, bill of sale, or other instrument conveying any real or personal property within this state or any interest in any such property to the judge of probate for recording must pay a privilege or license tax based upon the value of the property; however, there is no requirement to submit proof of the purchase price or value of the property at the time the instrument is presented for recording.
This bill would provide that a person presenting a real property or personal property instrument to the judge of probate for recording shall present proof of the actual purchase price of property or actual value of the property, and that if proof is not presented, the privilege or license tax will be based upon the assessed value of the property and the person failing to submit the required proof shall be subject to monetary penalties for failure to comply with the law.
Forwarded to Governor at 10:13 p.m. on May 16, 2012
Assigned Act No. 2012-494.
Signature Requested
Enrolled
Passed Second House
Motion to Read a Third Time and Pass adopted Roll Call 1585
McCutcheon motion to Table adopted Roll Call 1584
Judiciary Amendment again taken up
Third Reading Passed
Time Expired
Judiciary Amendment Offered
Third Reading Placed on the Calendar
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the House of Representatives committee on Judiciary
Engrossed
Taylor motion to Adopt adopted Roll Call 585
Again Read a Third Time and Pass adopted Roll Call 586.
Taylor Amendment Offered
Third Reading Passed
Bedford unanimous consent to Carry Over to the Call of the Chair Granted
Reed motion to reconsider third reading lost vote adopted Voice Vote
Read for a third time and lost Roll Call 404
Irons motion to Adopt adopted Roll Call 403
Judiciary first Substitute Offered
Third Reading Carried Over to Call of the Chair
Read for the second time and placed on the calendar with 1 substitute and
Read for the first time and referred to the Senate committee on Judiciary
Source: Alabama Legislature