HB54 Alabama 2018 Session

Sponsors

Session

Regular Session 2018

Title

Land Bank Authority, Revenue Commissioner required to convene board, transfer of state's interest in delinquent property, notice requirements, distribution of proceeds, Secs. 24-9-5 to 24-9-8, inclusive, am'd.

Description

<p class="bill_description"> The Alabama Land Bank Authority was created by Act 2009-738 for the purpose of acquiring tax delinquent, non-revenue generating properties in order to provide housing, promote commercial and economic development, and assemble parcels of real property for redevelopment and return to the tax roles of the State. To date, the Authority’s governing board has not been formed and, as a result, the Authority is unable to fulfill its intended purpose</p><p class="bill_description"> This bill will require the Commissioner of the Department of Revenue to convene the first meeting of Alabama Land Bank Authority board</p><p class="bill_description"> This bill will allow the Alabama Land Bank Authority to obtain the state’s interest in real property acquired as a result of its sale for delinquent state taxes of any type and retained in the state’s inventory for a period of five or more years</p><p class="bill_description"> This bill will require the Land Bank Authority to provide notice of its intended action to dispose of property</p><p class="bill_entitled_an_act"> To amend Sections 24-9-5, 24-9-6, 24-9-7, and 24-9-8 Code of Alabama 1975, to require the Commissioner of Revenue to convene the first meeting of the Land Bank Authority; to allow the authority to acquire the state’s interest in real property acquired as a result of its sale for delinquent state taxes of any type; to require the authority to provide notice of intention to dispose of property. </p>

Subjects

Taxation