SB260 Engrossed is a bill that amends the Code of Alabama 1975 to regulate tax lien auctions and sales, including the addition of a new section, 40-10-202. It specifies auction times, notification requirements for delinquent taxpayers, and revises fees associated with tax lien auctions. The bill also clarifies the rights of tax lien certificate holders, such as the first right to purchase subsequent tax liens and the continuation of interest on unsold tax liens. It prohibits certificate holders from entering or possessing property before receiving a deed and outlines their liability protections. Furthermore, the bill details the process for transferring tax lien certificates, the creation of security interests, and the redemption of tax liens, including the addition of statutory fees to the redemption amount.

The bill introduces mandatory reporting of unsold tax liens to the county commission and prohibits certain officials and employees from having a financial interest in the purchase of tax liens, making such a sale void and the violation a Class C misdemeanor. It also establishes the evidentiary status of certain books and records in trials involving tax lien certificates. The act will take effect on June 1, 2024, and applies to all tax liens for which a final judgment in a foreclosure and quiet title action has not been rendered by that date.

Statutes affected:
Introduced: 40-10-182, 40-10-183, 40-10-184, 40-10-186, 40-10-187, 40-10-191, 40-10-193, 40-10-198, 40-10-199, 40-10-200
Engrossed: 40-10-182, 40-10-183, 40-10-184, 40-10-186, 40-10-187, 40-10-191, 40-10-193, 40-10-198, 40-10-199, 40-10-200