SB 71-4_ Filed 02/25/2004, 07:52 Hasler


Text Box


    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______
    RULED OUT OF ORDER


[

HOUSE MOTION ____

]

MR. SPEAKER:

    I move that Engrossed Senate Bill 71 be amended to read as follows:

SOURCE: Page 23, line 34; (04)MO007103.23. -->     Page 23, between lines 34 and 35, begin a new paragraph and insert:
SOURCE: IC 6-1.1-24-15; (04)MO007103.32. -->     "SECTION 32. IC 6-1.1-24-15 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 15. A purchaser of real property under this chapter shall perform, or have performed, services reasonably necessary to maintain the property during the period of redemption specified in IC 6-1.1-25-4.
SOURCE: IC 6-1.1-25-2; (04)MO007103.33. -->     SECTION 33. IC 6-1.1-25-2, AS AMENDED BY P.L.170-2003, SECTION 7, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2004]: Sec. 2. (a) The total amount of money required for the redemption of real property equals:
        (1) either:
            (A)
the sum of the amounts prescribed in subsections (b) through (e); or
            (2) (B) the amount prescribed in subsection (f); reduced by plus
        (2) reasonable costs incurred by the purchaser under IC 6-1.1-24-15, as determined by the county auditor; minus
        (3)
any amounts held in the name of the taxpayer or the purchaser in the tax sale surplus fund.
    (b) Except as provided in subsection (f), the total amount required for redemption includes:
        (1) one hundred ten percent (110%) of the minimum bid for

which the tract or real property was offered at the time of sale, as required by IC 6-1.1-24-5, if the tract or item of real property is redeemed not more than six (6) months after the date of sale; or
        (2) one hundred fifteen percent (115%) of the minimum bid for which the tract or real property was offered at the time of sale, as required by IC 6-1.1-24-5, if the tract or item of real property is redeemed more than six (6) months but not more than one (1) year after the date of sale.
    (c) Except as provided in subsection (f), in addition to the amount required under subsection (b), the total amount required for redemption includes the amount by which the purchase price exceeds the minimum bid on the real property plus ten percent (10%) per annum on the amount by which the purchase price exceeds the minimum bid on the property.
    (d) Except as provided in subsection (f), in addition to the amount required under subsections (b) and (c), the total amount required for redemption includes all taxes and special assessments upon the property paid by the purchaser after the sale plus ten percent (10%) interest per annum on those taxes and special assessments.
    (e) Except as provided in subsection (f), in addition to the amounts required under subsections (b), (c), and (d), the total amount required for redemption includes the following costs, if certified before redemption by the payor to the county auditor on a form prescribed by the state board of accounts, that were incurred and paid by the purchaser, the purchaser's assignee, or the county, before redemption:
        (1) The attorney's fees and costs of giving notice under section 4.5 of this chapter.
        (2) The costs of a title search or of examining and updating the abstract of title for the tract or item of real property.
    (f) With respect to a tract or item of real property redeemed under section 4(c) of this chapter, instead of the amounts stated in subsections (b) through (e), the total amount required for redemption is the amount determined under IC 6-1.1-24-6.1(b)(4).".

SOURCE: Page 23, line 36; (04)MO007103.23. -->     Page 23, between lines 36 and 37, begin a new paragraph and insert:
SOURCE: ; (04)MO007103.33. -->     "SECTION 33. [EFFECTIVE JULY 1, 2004] IC 6-1.1-24-15, as
added by this act, and IC 6-1.1-25-2, as amended by this act, apply to sales of property under IC 6-1.1-24 that occur after June 30, 2004.".
    Renumber all SECTIONS consecutively.
    (Reference is to ESB 71 as printed February 20, 2004.)

________________________________________

Representative Hasler


MO007103/DI 103     2004