HB309 Alabama 2013 Session

Summary

Primary Sponsor

Mike Hill

Republican

Co-Sponsors

April WeaverMac McCutcheon

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

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.

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.

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Subjects

Taxation