HB468 Alabama 2018 Session

In Committee

Bill Summary

Sponsors

Becky Nordgren

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.

To amend Sections 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, and 40-10-122, Code of Alabama 1975; to provide that a party desiring to redeem property sold to the state for unpaid taxes pay interest of not more than eight percent only on the taxes due at the time of default.

Subjects

Taxation

Bill Actions

Action Date	Chamber	Action
March 1, 2018	H	Read for the first time and referred to the House of Representatives committee on Fiscal Responsibility

Bill Text

Download HB468 Alabama 2018 Session PDF

Bill Documents