HB145 Summary

• Amends Section 40-10-28 of the Alabama Code to clarify the process for calculating, distributing, and retaining excess funds from tax sales of real estate, applying retroactively regardless of when the tax sale occurred.

• Excess funds must be held in a separate county treasury account for three years; if properly redeemed within this period, funds are paid to the redeeming party, with the county retaining any interest earned.

• After three years but within 10 years, excess funds may be paid to persons entitled to redeem under law upon proof of a circuit court order, or to current/subsequent property owners upon proof of negotiated redemption agreement.

• If no redemption proof is received within 10 years of the tax sale, excess funds and accrued interest become county property.

• Ratifies, validates, and affirms any good faith actions taken by counties regarding excess funds calculation, distribution, and retention under prior law versions.