HB 2306 Summary

• Extends the time period for redeeming a real property tax lien to include any time before a judgment foreclosing the right to redeem is entered or a treasurer's deed is delivered, rather than limiting redemption to three years after sale.

• Requires that properties subject to a judgment foreclosing the right to redeem be sold at public auction by the county treasurer within six months of judgment entry, rather than being conveyed directly to the judgment creditor.

• Establishes procedures for public auction sales including minimum bid requirements based on limited cash value for the first auction and taxes/penalties/costs for subsequent auctions if no bids are received.

• Requires the county treasurer to mail notice of property sale and information about surplus monies to former owners and interested parties, with a six-month deadline for filing claims to any remaining proceeds after taxes and costs are paid.

• Allows third parties to identify rightful owners of surplus monies and charge a finder's fee of up to $500 or 30 percent of amounts successfully claimed, subject to written disclosure and contract requirements.