SB 422 Bill Summary

• Establishes a tax sale blight registry to be maintained by the attorney general, listing persons ineligible to participate in tax sales; registry becomes operational July 1, 2015.

• Reduces interest rate on excess bid amounts from 10% to 5% per annum for tax sale redemptions and allows outright sale of properties certified as vacant or abandoned.

• Shortens notification timeline to record owners from 9 months to 6 months after tax sale and reduces petition period for tax deed issuance from 6 to 3 months.

• Requires county, city, or town to obtain judgment that property is vacant or abandoned under IC 32-30-10.6 before certification for tax sale; entity certifying property is liable for damages if property later found not vacant or abandoned.

• Adds term "blighted" to unsafe building definition, prohibits unregistered foreign business associations from participating in tax sales, requires tax sale purchasers to reimburse title search costs, and allows counties to establish paddle fees for tax sale bidders.