|Committee: State Government||Sponsor: Coleman-Madison|
|Analyst: Jessica Perez||Date: 04/12/2021|
Senate Bill 32 as passed the Senate would remove the distribution procedure for proceeds received from the sale or disposition of tax delinquent property from the Alabama Land Bank Authority. Presuming that the Alabama Land Bank Authority would retain all receipts, instead of two-thirds of all receipts currently, this could decrease receipts to the Public School Fund, the State General Fund, and other recipients of ad valorem taxes within the jurisdiction of the tax delinquent property sold or disposed of and to statutorily designated recipients of the taxes by an undetermined amount dependent upon the amount of proceeds acquired from the sale or disposition of properties transferred to the Alabama Land Bank Authority.
This bill also lowers the threshold needed for cities and counties to form local land banks from having 1,000 tax delinquent properties in the locality, to having 100 tax delinquent properties in the locality.
|Chris Pringle, Chair|