HB309 Alabama 2013 Session

Sponsors

Session

Regular Session 2013

Title

Tax sales, interest on redemptions, rate charged on money judgments, Secs. 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, 40-10-122 am'd.

Description

<p class="bill_description"> Under existing law, the rate of interest to be paid when a tax sale is defective or when a party redeems property from a tax sale is 12 percent</p><p class="bill_description"> This bill would provide that the rate of interest would be the same as the rate of interest on money judgments, as amended, which is currently 7.5 percent</p><p class="bill_entitled_an_act"> To amend Sections 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, and 40-10-122, Code of Alabama 1975, to provide that the interest to be paid when a tax sale is defective or when a party redeems property from a tax sale would be at the rate allowed to be charged on money judgments. </p>

Subjects

Taxation