SB326 Alabama 2010 Session

Under existing law, the Alabama Land Bank Authority may acquire tax delinquent properties for rehabilitation of the properties

This bill would expand the purpose of the Alabama Land Bank Authority

This bill would remove the minimum date that taxes have been unpaid from the definition of the term "tax-delinquent property." This bill would require that a majority of the membership of the board is needed to approve any action taken by the authority

This bill would provide for civil immunity to the members of the board of the authority

This bill would provide that the authority would be a public corporation and would expand the powers of the authority

This bill would allow the authority to hold in its name certain property that has been sold for delinquent taxes and to allow the property to be redeemed for taxes

This bill would allow the authority to repeal and rescind all unpaid state taxes at the time it sells or disposes of the property purchased for nonpayment of taxes

This bill would provide that the authority may provide for distribution of property for economic development

This bill would limit the time that the authority may retain ownership of tax delinquent property

This bill would allow the authority to extinguish the right of redemption and otherwise provide the procedure for notice of foreclosure

To amend Sections 2, 4, 5, 6, 7, and 8 of Act 2009-738, 2009 Regular Session (Acts 2009, p. 2203), now appearing as Sections 24-9-2, 24-9-4, 24-9-5, 24-9-6, 24-9-7, and 24-9-8 of the Code of Alabama 1975, relating to the Alabama Land Bank Authority; to expand the purpose of the Alabama Land Bank Authority; to remove the minimum date that taxes have been unpaid from the definition of the term "tax-delinquent property"; to require that a majority of the membership of the board is needed to approve any action taken by the authority; to provide for civil immunity to the members of the board of the authority; to provide that the authority would be a public corporation; to expand the powers of the authority; to allow the authority to hold in its name certain property that has been sold for delinquent taxes and to allow the property to be redeemed for taxes; to allow the authority to repeal and rescind all unpaid state taxes at the time it sells or disposes of the property purchased for nonpayment of taxes; to provide that the authority may provide for distribution of property for economic development; to limit the time that the authority may retain ownership of tax delinquent property; and to allow the authority to extinguish the right of redemption for property sold for delinquent taxes and otherwise provide the procedure for notice of foreclosure.