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OH HB86
Bill
Status
3/18/2009
Primary Sponsor
Ronald Gerberry
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AI Summary
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Expands land reutilization corporation eligibility to counties with populations between 250,000 and 275,000 (in addition to existing counties with over 1.2 million residents) based on the most recent decennial census.
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Allows county treasurers in eligible counties to invoke an alternative redemption period in abandoned land foreclosure petitions, with the equity of redemption being permanently terminated after the alternative period expires.
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Permits foreclosed parcels to be transferred directly to municipal corporations, townships, counties, school districts, or county land reutilization corporations without appraisal or sale, with all liens and impositions deemed satisfied and discharged.
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Establishes a two-year deadline from a county land reutilization corporation's incorporation filing for accepting transfers of tax-foreclosed properties.
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Changes the deadline for organizing a county land reutilization corporation from one year after the effective date of the amending legislation to April 7, 2009.
Legislative Description
To authorize in certain counties the creation of a land reutilization corporation to facilitate the reclamation, rehabilitation, and reutilization of vacant, abandoned, tax-foreclosed, or other real property and to authorize in those counties the use of the expedited, nonjudicial foreclosure procedure for abandoned lands.
Land reutilization corporations-expand counties eligible to create
Last Action
To Local Government/Public Administration
3/18/2009