HB468 Alabama 2018 Session

Updated Apr 26, 2021

Summary

Primary Sponsor: Becky Nordgren
Republican
Session: Regular Session 2018
Title: Taxation, sale of land for unpaid tax, redeem property by paying interest only on tax, Secs. 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, 40-10-122 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.
Subjects: Taxation

Read for the first time and referred to the House of Representatives committee on Fiscal Responsibility