SB103 Alabama 2020 Session
Summary
- Primary Sponsor
-
Linda Coleman-Madison SenatorDemocrat - Session
- Regular Session 2020
- Title
- Taxation, recordation tax, mortgages, deeds of trust, etc., recording fee and the distribution thereof further provided, Sec. 40-22-2 am'd.
- 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.
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 modify the rate and further provide for the distribution of the mortgage record tax in order to provide a dedicated revenue for the Alabama Housing Trust Fund.
This bill would also make nonsubstantive, technical revisions to update the existing code language to current style.
- Subjects
- Mortgages
Bill Actions
Rereferred to Committee Finance and Taxation General Fund
Read for the first time and referred to the Senate committee on Governmental Affairs
Bill Text
Documents
Source: Alabama Legislature