Reference is to Printers Date 4/9/14-H.
Amend the bill, as and if amended, by striking SECTION 3 and inserting:
/ SECTION 3. The provisions of SECTIONS 1 and 2 of this act apply for eligible real property changed from agricultural use valuation after 2013.
SECTION 4. Section 12-43-220(c)(2)(vii) of the 1976 Code is amended to read:
"(vii)(A)
If a person signs the certification, obtains the four
percent assessment ratio, and is thereafter found not eligible,
or thereafter loses eligibility and fails to notify the assessor
within six months, a penalty is imposed equal to one hundred
percent of the tax paid, plus interest on that amount at the
rate of one-half of one percent a month, but in no case less
than thirty dollars nor more than the current year's taxes. This
penalty and any interest are considered ad valorem taxes due on
the property for purposes of collection and enforcement.
(B)
If property has undergone an assessable transfer
of interest as provided pursuant to Section 12-37-3150 and the
transferee is a bona fide purchaser for value without notice,
penalties assessed pursuant to subsubitem (A) and the additional
property taxes and late payment penalties are solely the
personal liability of the transferor and do not constitute a
lien on and are not enforceable against the property in the
hands of the transferee."
SECTION 5. Section 12-43-220(c)(2)(vii) of the 1976 Code, as amended by this act, applies prospectively and also retroactively to all property tax years open for the assessment of delinquent property taxes and penalties, including penalties assessed pursuant to Section 12-43-220(c)(2)(vii) of the 1976 Code, as of that date. No interest is due on any refunds issued pursuant to the retroactive provisions of this section.
SECTION 6. This act takes effect upon approval by the Governor. /
Renumber sections to conform.
Amend title to conform.