HB487 Alabama 2019 Session
Bill Summary
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.
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.
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.
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.
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 Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB487 Alabama 2019 Session - Introduced |
Source: Alabama Legislature