SB350 Alabama 2016 Session

Summary

Primary Sponsor

Hank Sanders

Democrat

Session

Regular Session 2016

Title

Taxation, sale of land for unpaid tax interest on tax, abolished, Sec. 40-10-121 am'd.

Description

Under existing law, a party desiring to redeem property sold to the state for unpaid taxes is required to pay the amount of money for which the property was sold, together with the amount of all taxes found to be due on the property since the date of sale, with interest at the rate of 12 percent.

This bill would provide that a party desiring to redeem property sold to the state for unpaid taxes would pay interest only on the taxes due at the time of default.

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Subjects

Taxation