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Introduced House Bill (H)

DIGEST

Land banks. Allows a county fiscal body in a county in which there is at least one land bank (except in a county containing a consolidated city) to adopt an ordinance requiring every person who wishes to participate in a tax sale as a bidder to pay a neighborhood investment fee of not more than $150. Provides that, if a county fiscal body adopts an ordinance authorizing the imposition of a neighborhood investment fee, the county treasurer shall establish the neighborhood investment fee fund (fund) and specifies the manner in which neighborhood investment fees collected are to be distributed from Land banks. Allows a county fiscal body in a county in which there is at least one land bank (except in a county containing a consolidated city) to adopt an ordinance requiring every person who wishes to participate in a tax sale as a bidder to pay a neighborhood investment fee of not more than $150. Provides that, if a county fiscal body adopts an ordinance authorizing the imposition of a neighborhood investment fee, the county treasurer shall establish the neighborhood investment fee fund (fund) and specifies the manner in which neighborhood investment fees collected are to be distributed from the fund to land banks. Allows a county fiscal body in a county in which there is at least one land bank (except in a county containing a consolidated city) to adopt an ordinance to impose, in addition to the 5% penalty for delinquent real property taxes, an additional penalty of not more than 3% for a total penalty that may not exceed 8% of the amount of delinquent real property taxes (additional penalty ordinance). Provides that delinquent tax payments attributable to real property used as a principal place of residence and receiving the homestead standard deduction for the most recent assessment date are exempt from an additional penalty ordinance. Specifies the manner in which the amounts collected attributable to an additional penalty imposed on delinquent real property taxes are to be distributed to land banks. ... View more