AL HB401

Doubles the mortgage recording tax rate from $0.15 to $0.30 per $100 of indebtedness for mortgages, deeds of trust, and similar instruments securing debt with real or personal property

Creates dedicated funding for the Alabama Housing Trust Fund by allocating 25% of all mortgage record taxes collected to the fund

Redistributes remaining revenue: 5% to judges of probate, 33% to county treasuries, and 37% to the State Treasury (previously 5% to probate judges, one-third to counties, and two-thirds to state)

Effective date: October 1, 2026