HB 6268 Summary

• Extends payment reduction program for delinquent property taxes from July 1, 2023 to July 1, 2025, allowing eligible property owners to reduce or eliminate delinquent taxes, interest, penalties, and fees under specified conditions.

• Establishes new procedures for persons with legal interests in foreclosed properties to claim remaining proceeds after sale, requiring notice to foreclosing governmental units by July 1 following foreclosure and allowing claims to be filed with circuit courts between February 1 and May 15.

• Modifies fee distribution from property sales to prioritize reimbursement of delinquent tax revolving funds and foreclosure costs on a property-by-property basis, with remaining proceeds allocated to claimants based on court determination of their priority and interests.

• Updates property sale procedures to allow foreclosing governmental units to transfer unsold property to land bank fast track authorities or convey under specified authority, rather than requiring automatic transfer to municipalities.

• Changes references from "owners of property" to "persons with property interest" throughout the statute to clarify that various parties with legal interests in properties are entitled to notice and may claim remaining proceeds.