Skip to main content
Senate Bill 0391


Senate Bill 0391

ARCHIVE (2003)

Latest Information

 

DIGEST OF INTRODUCED BILL


Property tax liens in tax allocation areas. Provides that the payment obligations of a taxpayer that: (1) is located in a property tax allocation area established by a redevelopment commission; and (2) enters into an agreement after June 30, 2003, with the redevelopment commission that protects the bond or lease obligations of the commission; are enforceable in the same manner as property taxes regardless of whether the agreement provides for a property tax lien. For agreements made before July 1, 2003, retains existing law that provides that the obligations are enforceable in the same manner as property taxes if the agreement provides for a property tax lien. For agreements providing for a lien, specifies that the lien attaches to the property and attaches on the date specified in the agreement. For agreements not providing for a lien but to which a lien applies under the new provisions, provides that the lien attaches: (1) to the taxpayer's real property in the allocation area; (2) to depreciable personal property in the area if a resolution has been adopted to include taxes on such property as part of the taxes allocated in the area; and (3) on the date the agreement was executed. Specifies that an allowable lien attaches without further action by the commission unless an agreement provides otherwise.
    Current Status:
     In Committee - first House
    >Latest Printing > (PDF)