SB350 Alabama 2016 Session
In Committee
Bill Summary
Sponsors
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
To amend Section 40-10-121, Code of Alabama 1975; to provide that a party desiring to redeem property sold to the state for unpaid taxes pay interest only on the taxes due at the time of default.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 15, 2016 | S | Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 6, 2016 | Room 727 at 15:00 | Senate FR&ED Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB350 Alabama 2016 Session - Introduced |