SB2378 Summary

• Changes property tax forfeiture procedures so tax liens and certificates are forfeited to the county as trustee (rather than the State) and managed pursuant to Section 21-90.

• Extends redemption period for vacant nonfarm property and properties with 7+ residential units from 6 months to 1 year, removing prior restrictions on delinquency or forfeiture status.

• Modifies sale-in-error procedures so tax certificates are forfeited to the county when sales are declared erroneous, and eliminates interest payments on refunds of costs and taxes (keeping only the $80 nonrefundable fee).

• Establishes new procedures for assigned forfeited tax certificates, requiring assignees to file notices with redemption deadlines (not exceeding 3 years from assignment date) and voiding certificates if tax deeds are not recorded within that timeframe.

• Authorizes county tax deed petitions for forfeited certificates held pursuant to Section 21-90, with extended redemption periods designated by the county in its petition; repeals Sections 21-405 and 22-50; effective immediately.