SB103 Alabama 2020 Session

In Committee

Contents hide

1 Bill Summary
2 Bill Actions
3 Bill Calendar
4 Bill Text
5 Bill Documents

Bill Summary

Sponsors

Linda Coleman-Madison

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

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; to 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; and to make nonsubstantive, technical revisions to update the existing code language to current style.

Subjects

Mortgages

Bill Actions

Action Date	Chamber	Action
February 18, 2020	S	Rereferred to Committee Finance and Taxation General Fund
February 4, 2020	S	Read for the first time and referred to the Senate committee on Governmental Affairs