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AL SB197
Bill
Status
2/14/2013
Primary Sponsor
Robert Ward
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AI Summary
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Restricts excess funds from property tax sales to only persons or entities who have redeemed the property, as authorized under Section 40-10-120 or other Alabama redemption laws.
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Requires excess funds to be held in an escrow account in the county treasury and mandates that proof of proper redemption be presented to the county commission within three years of the tax sale.
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Directs that if no proper request for excess funds is made within the three-year period, the funds shall be deposited to the county's general fund.
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Allows the county commission to order payment of excess funds to the rightful owner at any time within 10 years after the tax sale occurs, provided proof of proper property redemption is made.
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Funds not claimed within 10 years become the permanent property of the county.
Legislative Description
Real Property, tax sales delinquent ad valorem tax, excess amounts paid to a person or entity who has redeemed the property, Sec. 40-10-28 am'd.
Ad Valorem Tax
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
2/14/2013