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IN SB0422
Bill
Status
1/10/2018
Primary Sponsor
Vaneta Becker
Click for details
AI Summary
Senate Bill No. 422 Summary
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Establishes county land bank funds in counties with land banks, funded by sales disclosure fees, blight fees, tax deed petition fees, penalties/interest on delinquent taxes, and other sources.
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Increases sales disclosure form filing fee from $10 to $25, with 60% of revenue in counties with land banks deposited into the county land bank fund.
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Reinstates mortgage foreclosure counseling fee ($50) expiring July 1, 2022, and enacts new blight fees ($150) and supplemental tax deed petition fees ($100) collected as civil costs in foreclosure and tax deed actions.
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Reduces property tax refund claim period from three years to two years, with unclaimed refunds deposited into county land bank funds in counties that established them; increases delinquent tax penalties in those counties.
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Exempts redevelopment commissions and land banks from recording fees and other county recorder charges; clarifies land bank property disposal procedures and abandoned property determination processes.
Legislative Description
Land banks. Revises the land bank statute. Provides that in a county that has established a county land bank the county treasurer shall establish a county land bank fund for the purpose of accumulating money for distribution to the county land bank. Provides that a county fiscal body may adopt an ordinance to allocate to the county land bank an amount or percentage of the county's share of any penalties and interest on delinquent tax payments that is distributed to the county from the semiannual distribution made by the county auditor. Increases the fee charged for filing a sales disclosure
Last Action
First reading: referred to Committee on Local Government
1/10/2018