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House Bill 1568

House Bill 1568

ARCHIVE (2013)

Latest Information

DIGEST OF HB 1568 (Updated April 16, 2013 3:58 pm - DI 84)

Real property subject to tax sale. In the statute concerning the sale of real property for which taxes or special assessments are delinquent, makes the following changes for purposes of the section that allows a county executive that holds a certificate of sale for a vacant parcel to sell the parcel to a contiguous residential property owner: (1) Provides that the vacant parcel or the certificate of sale for the vacant parcel will be sold to the successful applicant for $1, plus the amount of certain costs incurred by the county in the sale. (Under current law, the sale price does include costs incurred by the county.) (2) Provides that for purposes of the section, a "vacant parcel" includes an improved parcel. (Current law provides that a "vacant parcel" includes only an unimproved parcel.) (3) Specifies that the county executive may offer for sale the vacant parcel or the certificate of sale for a vacant parcel. (4) Eliminates the property tax exemption for a vacant parcel acquired by a contiguous residential property owner. (5) Provides that a contiguous residential property owner who receives a tax deed for a vacant parcel may not sell the vacant parcel for 1 year. Establishes an alternative urban homesteading program that provides for the following: (1) That an individual is qualified to receive real property offered under the program if the individual applies for and receives, within a period specified by the local agency administering the program, a rehabilitation loan eligible for insurance under section 203(k) of the National Housing Act. (2) That the conveyance of a dwelling to a qualified individual under the program shall be made for a fee of $1, plus certain costs incurred by the county in obtaining the property. (3) That before the vesting of a fee simple title in a qualified purchaser under the program, any material failure by the purchaser to carry out the agreement required under the program nullifies the agreement and all right, title, and interest in the property reverts to the agency administering the program. Provides that a financial institution that holds land that: (1) has been subdivided into lots; or (2) rezoned for, or put to, a different use; qualifies for a land development exception in which the reclassification of the land is delayed.
Current Status:
Law Enacted
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