PROPOSED
HOUSE OF REPRESENTATIVES AMENDMENTS TO H.B. 2653
(Reference to printed bill)
Page 1, line 9, after "cent" strike remainder of line; line 10, strike "amount of at least ten" insert "percent of the installment and in an amount of at least ten"
Strike lines 17 through 21, insert:
"C. Beginning in calendar year 2016, for all certificates of purchase sold in a county that has established an elderly assistance fund pursuant to section 42-17401, the county treasurer shall accept a partial payment in an amount equal to at least twenty-five percent of the principal amount shown on the oldest remaining year of the delinquency plus any accrued interest and fees due on the principal payment amount."
Line 25, after the period insert "The receipt shall show the principal, interest and fee amounts allocated to the certificate of purchase and the amounts allocated to the elderly assistance fund and the holder of the certificate of purchase as provided by section 42-18153, subsection C."
Page 2, line 3, after the second "the" insert "principal"; strike "taxes" insert "certificate of purchase"
Line 12, after "entries" insert "or for assignment of a subsequent year certificate of purchase under section 42-18201, subsection B"
Between lines 12 and 13, insert:
"Sec. 3. Section 42-18152, Arizona Revised Statutes, is amended to read:
42-18152. When lien may be fully redeemed
A. A real property tax lien may be fully redeemed at any time:
1. Within three years after the date of sale.
2. After three years but before the delivery of a treasurer's deed to the purchaser or the purchaser's heirs or assigns.
B. A lien that has been partially redeemed under section 42-18056, subsection C must be fully redeemed before the delivery of a treasurer's deed to the purchaser.
Sec. 4. Section 42-18153, Arizona Revised Statutes, is amended to read:
42-18153. Amount required for redemption; elderly assistance fund deposit
A. To redeem a real property tax lien a person must shall pay to the county treasurer:
1. The amount for which the real property tax lien was sold, with interest at the rate stated in the certificate of purchase.
2. The amount of all taxes accruing on the real property after the sale and paid by the purchaser and endorsed on the certificate of purchase, with interest on the subsequent taxes at the same rate as stated in the certificate of purchase.
3. Any statutory fees paid by the purchaser or the purchaser's assigns in connection with the certificate, except the processing fee imposed by section 42-18116, subsection C, with interest at the rate stated in the certificate of purchase except as otherwise provided by this chapter.
B. To redeem a real property tax lien in a county that has established an elderly assistance fund a person shall pay to the county treasurer:
1. The amount for which the real property tax lien was sold, with interest at the rate prescribed by section 42-18053.
2. The amount of all taxes accruing on the real property after the sale and paid by the purchaser and endorsed on the certificate of purchase, with interest on the subsequent taxes at the same rate prescribed by section 42-18053.
3. Any statutory fees paid by the purchaser or the purchaser's assigns in connection with the certificate, except the processing fee imposed by section 42-18116, subsection C, with interest at the rate prescribed by section 42-18053 except as otherwise provided by this chapter.
C. After a real property tax lien is redeemed under subsection B of this section, and if an elderly assistance fund is established in the county pursuant to section 42-17401, the county treasurer shall deposit an amount in the elderly assistance fund that is equal to eighty percent of the difference in the amount of interest prescribed by section 42-18053 and the amount of interest stated in the certificate of purchase. The remaining twenty percent shall be paid to the holder of the certificate of purchase if the redemption was made in partial payments pursuant to section 42-18056.
Sec. 5. Section 42-18154, Arizona Revised Statutes, is amended to read:
42-18154. Certificate of redemption; issuance; contents; fee
A. If a person requests to redeem a real property tax lien that was sold under article 3 of this chapter, and if the county treasurer is satisfied that the person has the right to redeem the tax lien, and if the person pays the amount due, the county treasurer shall issue to the person a certificate of redemption.
B. The certificate shall:
1. Describe the parcels on which the tax lien is redeemed.
2. State:
(a) The date of redemption.
(b) The amount paid.
(c) By whom redeemed.
C. If a person requests to partially redeem a real property tax lien that was sold under article 3 of this chapter, and if the county treasurer is satisfied that the person has the right to partially redeem the tax lien, and if the person pays the amount due, the county treasurer shall issue to the person a statement of partial redemption. The partial redemption statement shall:
1. Identify the person or entity making the partial redemptions.
2. Describe the parcels on which the tax lien is partially redeemed.
3. State:
(a) The date of the partial redemption.
(b) The amount paid.
(c) The amount allocated to the certificate of purchase.
(d) The amount allocated to accrued interest on the payment amount.
(e) The separate amounts allocated under section 42-18153, subsection C to the elderly assistance fund and the holder of the certificate of purchase.
(f) The principal amount remaining due.
C. D. For each certificate of redemption the county treasurer shall:
1. Make the proper entries in the treasurer's record of tax lien sales.
2. Collect a fee of five dollars each for the first and last partial redemption or ten dollars for a full redemption for which no partial payments were made.
D. E. A holder of a certificate of redemption may record the certificate in the office of the county recorder."
Renumber to conform
Page 2, line 18, after "lien" insert ", or the purchase of a subsequent year certificate of purchase by assignment under section 42-18121, subsection A by the holder of the original certificate of purchase,"
Line 30, after the second "the" strike remainder of line; line 31, strike "section 42-18106" insert "subsequent certificate of purchase was assigned"
Line 34, after "redeem" insert "the lien and all certificates of purchase subsequently acquired by assignment held by the person or entity that filed the foreclosure action"
Line 39, strike "herein" insert "in this subsection"
Line 40, strike "such" insert "the"
Amend title to conform
JUSTIN OLSON |