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AL HB534
Bill
Status
4/30/2019
Primary Sponsor
Steve McMillan
Click for details
AI Summary
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Reduces interest rate from 12 percent to 8 percent for redemptions of land sold to the state for delinquent taxes occurring on or after January 1, 2020.
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Reduces interest rate from 12 percent to 8 percent for redemptions of land sold to parties other than the state for delinquent taxes occurring on or after January 1, 2020.
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Establishes detailed procedures for redemption disputes involving insurance premiums and preservation expenditures, including written demand and response timelines, referee appointment process, and probate court resolution.
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Requires purchasers to file notice of insurance or preservation costs within 72 hours to the tax collecting official or forfeit recovery of those costs.
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Allows parties to appeal probate court redemption orders for trial de novo in circuit court within 30 days and permits voluntary mediation or arbitration between redemptioner and purchaser.
Legislative Description
Taxation, sale of land for unpaid tax delinquent after January 1, 2020, redemption, Secs. 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, 40-10-122 am'd.
Taxation
Last Action
Read for the first time and referred to the House of Representatives committee on State Government
4/30/2019