HB2933 Summary

• Amends Section 21-365 of the Property Tax Code regarding deficiency judgments in tax sale proceedings.

• Requires that when net income from receivership proceedings exceeds expenditures, the surplus must be returned to the original property owner if they can be located after a reasonably diligent search by the clerk of the court.

• Applies only to tax sales occurring on or after the effective date of this amendment in the 103rd General Assembly.

• Previously, net income distribution was determined solely by court order; this bill prioritizes returning surplus funds to the original owner when locatable.

• Takes effect immediately upon becoming law.