CA AB2257

Eliminates requirement that unclaimed excess proceeds from tax-defaulted property sales be distributed to taxing agencies; authorizes transfer to county general fund instead after specified time period.

Prevents distribution of excess proceeds to parties of interest if the board of supervisors has been petitioned to rescind the tax sale; delays distribution until one year after board determines sale should not be rescinded.

Prohibits distribution of excess proceeds if petitioner has commenced court proceedings pursuant to Section 3725; requires distribution to wait until final court order is issued.

Maintains existing one-year filing deadline for parties of interest to claim excess proceeds following recordation of tax collector's deed to purchaser.

Requires disclosure of all facts relating to value of assigned rights and proof that parties of interest have been advised of their right to file claims directly with the county at no cost.