HB145 Alabama 2017 Session

Under existing law, Section 40-10-28, Code of Alabama 1975, as amended by Act 2014-442, provides for the disposition of any excess funds arising from a tax sale after the property is redeemed. It is unclear whether the law applies to funds held by a county prior to the 2014 amendment

This bill would clarify the process for the calculation, distribution, and retention of excess funds held by a county following the sale of real estate for taxes and would provide for this process to apply regardless of when the tax sale took place

This bill would also ratify, validate, and affirm any good faith actions taken by a county in regards to the calculation, distribution, and retention of excess funds pursuant to any prior version of the law

To amend Section 40-10-28, Code of Alabama 1975, to provide for the calculation, distribution, and retention of all excess funds arising from the sale of real estate for taxes on the effective date of this act held by a county regardless of when the tax sale took place; and to ratify, validate, and affirm the treatment and disposition of excess funds and interest made in good faith reliance on this section, prior to the effective date of this act.