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AL SB44

Bill

Official Source

Status

Engrossed

4/13/2017

Primary Sponsor

Hank Sanders

Click for details

Origin

Senate

Regular Session 2017

AI Summary

  • Amends Section 40-10-121 of the Alabama Code to modify interest calculations when redeeming property sold to the state for unpaid taxes.

  • Changes interest requirement from 12 percent on all taxes found due since the sale date to 12 percent interest only on the actual taxes due at the time of default.

  • Applies the same interest limitation to installment redemptions and municipal taxes owed on redeemed property.

  • Becomes effective October 1, 2016, for actions related to taxes delinquent on or after January 1, 2017.

Legislative Description

Taxation, sale of land for unpaid tax interest on tax, abolished, Sec. 40-10-121 am'd.

Taxation

Last Action

State Government first Amendment Offered

5/3/2017

Committee Referrals

State Government4/13/2017
Fiscal Responsibility and Economic Development2/7/2017

Full Bill Text

No bill text available