HB309 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Tax sales, interest on redemptions, rate charged on money judgments, Secs. 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, 40-10-122 am'd.
Description
Under existing law, the rate of interest to be paid when a tax sale is defective or when a party redeems property from a tax sale is 12 percent
This bill would provide that the rate of interest would be the same as the rate of interest on money judgments, as amended, which is currently 7.5 percent
To amend Sections 40-10-75, 40-10-76, 40-10-77, 40-10-83, 40-10-121, and 40-10-122, Code of Alabama 1975, to provide that the interest to be paid when a tax sale is defective or when a party redeems property from a tax sale would be at the rate allowed to be charged on money judgments.
Subjects
Taxation
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 7, 2013 | H | Indefinitely Postponed |
| March 7, 2013 | H | Read for the second time and placed on the calendar |
| February 19, 2013 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB309 Alabama 2013 Session - Introduced |