Bill > HB150

This bill amends Alabama law concerning improvement districts by modifying how interest is charged on assessments and by providing a new mechanism for collecting these assessments. Specifically, it clarifies that interest on assessments can be set by the board of the improvement district, but it removes the board's discretion to set interest rates higher than those of the bonds issued to fund the improvements, unless otherwise specified in the district's proceedings. The bill also introduces a process where improvement districts can petition county commissions to collect assessments alongside regular property taxes. If approved, the county tax assessing official will include these assessments on property tax bills, the tax collecting official will handle their collection, and the judge of probate will enforce delinquent payments, with the district bearing full responsibility for the accuracy of the information and any resulting litigation or costs. This new collection method is intended to aid in the efficient collection of assessments, with a three percent collection fee retained by the tax collecting official.

Government Affairs

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