HB 4233 Summary

• Changes requirement for minimum property sales from "at least 2" to "1 or more" sales between third Tuesday in July and first Tuesday in November following tax foreclosure judgment.

• Allows foreclosing governmental units to hold multiple sales with final sale requiring minimum 28 days after preceding sale, with no minimum bid requirement at final sale (only reasonable opening bid to recover costs).

• Grants state right of first refusal to purchase tax-foreclosed property at greater of minimum bid or fair market value; if state declines, cities, villages, townships, and counties may purchase at minimum bid.

• Transfers unsold property by December 30 to cities, villages, or townships where located for urban homestead programs or other lawful purposes; if not transferred, state retains via land bank fast track authority.

• Requires deposit of sale proceeds into restricted account for delinquent tax property with priority uses: repay revolving fund, pay sale costs, pay foreclosure costs, pay prior year costs, pay property maintenance, and handle title defense costs.