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RI S2713
Bill
Status
2/27/2026
Primary Sponsor
Jessica de la Cruz
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AI Summary
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Establishes a 5-year redemption period allowing any person to pay off a tax debt on behalf of the property owner before foreclosure can proceed.
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Prohibits foreclosure of tax liens unless the outstanding debt (including penalties, interest, and fees) exceeds 5% of the property's fair market value or $50,000, whichever is lower.
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Requires tax sales to be conducted through online competitive bidding and advertised on a multiple listing service for at least 30 days prior to auction.
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Mandates extensive notice requirements including certified mail to property owners and lienholders at 60 days, 30 days, and 30 days before deed issuance, with warnings provided in the 5 most common languages in the state.
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Requires surplus proceeds from tax sales to be returned to the former property owner after satisfying tax debts and government liens, with a 120-day claim period before unclaimed funds are administered by the state.
Legislative Description
Establishes the Property Equity Protection Act to protect property owners from losing their equity when their property is seized to pay a debt to the government by allowing ample time to pay off the debt and adequate notice of due process.
Taxation
Last Action
Introduced, referred to Senate Judiciary
2/27/2026