HB354 Summary

• Revises Alabama tax lien sale procedures to authorize counties to conduct public auctions where tax liens are awarded to the bidder offering the lowest interest rate, with a maximum beginning rate of 12 percent.

• Establishes tax lien certificates issued by tax collecting officials that evidence delinquent taxes, penalties, interest, fees, and costs, with certificate holders bearing interest at the bid rate from sale date until redemption.

• Allows unsold tax liens after auction to be sold privately within 45 days for no less than all taxes, interest, penalties, costs, and fees at a rate agreed to by the tax collecting official (not exceeding 12 percent).

• Permits tax lien certificate holders to foreclose redemption rights between 3 and 10 years after auction through circuit court action, with certificate expiration and lien voidance if not redeemed within 10 years.

• Increases certain tax lien certificate fees from $1 to $5 per certificate and from $10 to $50 for duplicate certificates, and establishes that unsold tax liens must be reported to the county commission and carried forward to future auctions.