SB362 Alabama 2015 Session
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Bill Summary
Sponsors
Session
Regular Session 2015
Title
Interest, due or paid on properties reduced subject to tax sale, 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 interest to be paid
through any litigation related to properties that
are the subject of a tax sale is currently 12
percent. Additionally, redemption of properties
sold at a tax sale, including the amount in excess
of taxes due that is paid by the tax sale purchaser
at the time of the tax sale purchase, is 12
percent</p><p class="bill_description">
This bill would reduce the interest to be
paid through any litigation related to properties
that are the subject of a tax sale or the
redemption of properties sold at a tax sale,
including the amount paid in excess of taxes due
that is paid by the tax sale purchaser, to seven
and one-half 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
reduce interest due or paid on properties subject to tax sale
to seven and one-half percent.
</p>
Subjects
Interest
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 5, 2015 | H | Pending third reading on day 23 Favorable from Ways and Means General Fund |
| May 5, 2015 | S | Motion to Read a Third Time and Pass adopted Roll Call 808 |
| May 5, 2015 | S | Motion to Adopt adopted Roll Call 807 |
| May 5, 2015 | S | Pittman Amendment Offered |
| May 5, 2015 | S | Pittman motion to Adopt adopted Roll Call 806 |
| May 14, 2015 | H | Read for the second time and placed on the calendar |
| May 5, 2015 | S | County and Municipal Government Amendment Offered |
| May 7, 2015 | S | Engrossed |
| May 5, 2015 | S | Third Reading Passed |
| May 7, 2015 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund |
| April 16, 2015 | S | Read for the second time and placed on the calendar 1 amendment |
| April 9, 2015 | S | Read for the first time and referred to the Senate committee on County and Municipal Government |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 13, 2015 | Room 617 at 19:00 | House W&MGF Hearing |
| Hearing | April 15, 2015 | Room 316 at 19:00 | Senate C&MG Hearing |
| Hearing | April 15, 2015 | Room 316 at 13:30 | Senate C&MG Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB362 Alabama 2015 Session - Introduced |
| Bill Text | SB362 Alabama 2015 Session - Engrossed |