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.
State Government first Amendment Offered
Pending third reading on day 24 Favorable from State Government with 1 amendment
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the House of Representatives committee on State Government
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 588
Coleman-Madison motion to Adopt adopted Roll Call 587
Fiscal Responsibility and Economic Development Amendment Offered
Third Reading Passed
Read for the second time and placed on the calendar 1 amendment
Read for the first time and referred to the Senate committee on Fiscal Responsibility and Economic Development
Source: Alabama Legislature