SB 1135 Summary

• Allows county treasurers in counties with populations exceeding 3 million to accept partial payments of at least 25% of the principal amount on delinquent taxes for tax year 2014 and later, beginning in calendar year 2016.

• Requires county treasurers to issue separate certificates of purchase by assignment for each subsequent year's taxes when a certificate holder pays subsequent taxes in applicable counties, with each certificate carrying the same foreclosure rights as the original.

• Establishes that partial payments must be fully redeemed before a treasurer's deed is delivered and requires county treasurers to refund all impounded partial payment amounts within 30 days after deed delivery.

• Limits the foreclosure right on subsequent year certificates of purchase by assignment to three to ten years after assignment, allowing partial foreclosure of only those certificates held by the foreclosing party.

• Prohibits county treasurers from accepting further partial payments under the new provisions after receiving notice of a foreclosure action.