HB487 Alabama 2019 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2019
Title
Taxation, to increase the fee for recording certain mortgages, deeds of trust, contracts of conditional sale, or other instruments of like character and to modify rate and distribution of funds, Sec. 40-22-2 am'd.
Description
<p class="bill_description"> Under existing law, a fee is required to
record certain mortgages, deeds of trust, contracts
of conditional sale, or other instruments of like
character which is given to secure the payment of
any debt which conveys any real or personal
property</p><p class="bill_description">
This bill would increase the fee for
recording of certain mortgages, deeds of trust,
contracts of conditional sale, or other instruments
of like character which is given to secure the
payment of any debt which conveys any real or
personal property</p><p class="bill_description">
This bill would also modify the rate and
distribution of the Mortgage Record Tax in order to
provide a dedicated revenue for the Alabama Housing
Trust Fund</p><p class="bill_entitled_an_act"> Relating to the Mortgage Record Tax; to amend
Section 40-22-2, Code of Alabama 1975, to increase the fee for
recording of certain mortgages, deeds of trust, contracts of
conditional sale, or other instruments of like character which
is given to secure the payment of any debt which conveys any
real or personal property and modify the rate and distribution
of the Mortgage Record Tax in order to provide a dedicated
revenue for the Alabama Housing Trust Fund.
</p>
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 23, 2019 | H | Read for the first time and referred to the House of Representatives committee on County and Municipal Government |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | May 15, 2019 | Room 429 at 13:15 | House C&MG Public Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB487 Alabama 2019 Session - Introduced |