SB197 Alabama 2013 Session

Under existing law, if property is sold for delinquent ad valorem taxes, the tax sale purchaser may pay an excess amount which can be paid over to the delinquent taxpayer under certain circumstances

This bill would more clearly define who is entitled to be paid the excess amount by providing that the excess funds only be paid to a person or entity who has redeemed the property. This bill would also require that the excess amount be held in escrow in the county treasury for at least three years until such time as proper application for payment of the excess is made and that, if not paid within 10 years, the excess would be paid into the county general fund for use by the county

To amend Section 40-10-28, Code of Alabama 1975, to provide that only a person or entity who has redeemed property sold at a tax sale may receive the excess paid by a tax sale purchaser; to require that the excess be held in escrow in the county treasury for three years until proper application for payment of the escrow is made; and to provide that the excess shall be paid into the county general fund for use by the county if not claimed within 10 years.