SB362 Alabama 2015 Session

Updated Feb 27, 2026

Notable

Summary

Primary Sponsor: Trip Pittman
Republican
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.
Summary: SB362 lowers the interest rate on tax-sale related awards and redemptions from 12% to 7.5% for tax sales occurring on or after January 1, 2016.
What This Bill Does
For tax-delinquent actions and related cases after January 1, 2016, the law sets the interest rate on awarded amounts at 7.5% per year. The 12% rate remains in effect for actions involving tax sales that occurred before January 1, 2016. The bill also clarifies the redemption process and related payments, which would now accrue interest at 7.5% for post-2016 actions. It becomes effective October 1, 2015, with applicability to 2016 and later actions, and online redemption payments are allowed where specified.

Who It Affects
Tax sale purchasers and their successors/assignees (and others seeking possession) – will have interest on awarded amounts reduced to 7.5% per year for actions related to tax sales after January 1, 2016.
Property owners and redemptioners (those redeeming land or defending against tax-sale actions) – will see interest on amounts they owe or are owed reduced to 7.5% per year for post-2016 actions.

Key Provisions
For actions related to taxes delinquent on or after January 1, 2016, the interest rate on amounts awarded under sections 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, and 40-10-122 is set to 7.5% per year.
For tax sales occurring before January 1, 2016, the interest rate remains 12% per year.
The 7.5% rate applies to post-2016 actions involving redemption, proceedings to recover possession, and related judgments or liens.
The act becomes effective October 1, 2015, with the 7.5% rate applying to actions delinquent on or after January 1, 2016.
Redemption applications and payments may be processed online.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Interest