AL HB219

Requires persons presenting deeds, bills of sale, or other property instruments to the judge of probate for recording to provide proof of the actual purchase price or actual value of the property being conveyed.

If proof of value is not provided when the instrument is presented for recording, the privilege or license tax will be based on the assessed value of the property instead of the stated value.

Establishes a penalty of $100 or 25 percent of the privilege or license tax actually due (whichever is greater) for persons who fail to submit required proof or who submit false proof.

Directs the Department of Revenue to develop rules establishing what constitutes adequate proof of property value or purchase price.

Becomes effective on the first day of the third month following passage and approval by the Governor.