HB450 Alabama 2020 Session

Under existing law, a tax delinquent property may be transferred by the Land Commissioner of the Alabama Department of Revenue to the Alabama Land Bank Authority if the property has been bid in for the state for at least five years and the state's interest in property acquired for delinquent taxes has been held for at least five years

This bill would provide that a tax delinquent property may be transferred by the Land Commissioner of the Alabama Department of Revenue to the Alabama Land Bank Authority if the property has been bid in for the state for at least three years and the state's interest in property acquired for delinquent taxes has been held for at least three years

This bill would remove the distribution requirements for proceeds derived from the sale of property under the land bank program

Under existing law, a municipality having over 1,000 tax delinquent properties in a municipality, or a county in which a municipality has over 1,000 tax delinquent properties, may form a local land bank authority

This bill would allow municipalities or counties having over 100 delinquent properties within a municipality to form a local land bank authority

This bill would also grant additional powers to local land bank authorities

Relating to tax delinquent properties; to amend Sections 24-9-6, 24-9-7, 24-9-8, and 24-9-10, Code of Alabama 1975; to provide that a tax delinquent property may be transferred by the Land Commissioner of the Alabama Department of Revenue to the Alabama Land Bank Authority if the property has been bid in for the state for at least three years and the state's interest in property acquired for delinquent taxes has been held for at least three years; to remove the distribution requirements for proceeds derived from the sale of property under the land bank program; to allow municipalities or counties having over 100 delinquent properties within a municipality to form a local land bank authority; and to grant additional powers to local land bank authorities.