AL HB47

Amends Section 40-10-28 of the Alabama Code to restrict excess funds from tax sales to only persons or entities who have redeemed the property.

Requires excess funds from tax sales to be held in escrow in the county treasury for three years pending proper redemption and application for payment.

Allows the county commission to order payment of excess funds to the rightful owner or entity within 10 years after the tax sale if proper redemption proof is presented.

Directs that excess funds not claimed within 10 years be deposited into the county general fund for county use, with any accrued interest retained by the county.

Authorizes the Department of Revenue to promulgate rules allowing county commissions to issue vouchers for excess bid amounts to persons or entities who have paid all other redemption costs.