HB 1090-3_ Filed 02/16/2012, 08:59 Miller

SENATE MOTION


MADAM PRESIDENT:

    I move
that Engrossed House Bill 1090 be amended to read as follows:

SOURCE: Page 8, line 1; (12)MO109006.8. -->     Page 8, line 1, delete "exceeds" and insert " is at least".
    Page 14, between lines 14 and 15, begin a new paragraph and insert:
SOURCE: IC 6-1.1-25-2; (12)MO109006.12. -->     "SECTION 12. IC 6-1.1-25-2, AS AMENDED BY P.L.89-2007, SECTION 9, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 2. (a) The total amount of money required for the redemption of real property equals:
        (1) the sum of the amounts prescribed in subsections (b) through (e); (f); or
        (2) the amount prescribed in subsection (f); (g);
reduced by 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), (g), 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), (g), 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), (g), 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), (g), 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 and not earlier than thirty (30) days after the date of sale of the property being redeemed 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) The total amount required for redemption includes, in addition to the amounts required under subsections (b) and (e), all taxes, special assessments, interest, penalties, and fees on the property that accrued after the sale.

    (f) (g) 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), (f), the total amount required for redemption is the amount determined under IC 6-1.1-24-6.1(b)(4).".

SOURCE: Page 15, line 4; (12)MO109006.15. -->     Page 15, line 4, after "to" insert " subsection (l) and".
    Page 16, between lines 40 and 41, begin a new paragraph and insert:
    " (l) If a tract or item of real property did not sell at a tax sale and the county treasurer and the owner of real property agree before the expiration of the period for redemption under subsection (b) to a mutually satisfactory arrangement for the payment of the entire amount required for redemption under section 2 of this chapter before the expiration of a period for redemption extended under this subsection:
        (1) the county treasurer may extend the period for redemption; and
        (2) except as provided in subsection (m), the extended period for redemption expires one (1) year after the date of the agreement.

     (m) If the owner of real property fails to meet the terms of an agreement entered into with the county treasurer under subsection (l), the county treasurer may terminate the agreement after providing thirty (30) days written notice to the owner. If the county treasurer gives notice under this subsection, the extended period for redemption established under subsection (l) expires thirty (30) days after the date of the notice.".
    Renumber all SECTIONS consecutively.
    (Reference is to EHB 1090 as printed February 14, 2012.)

________________________________________

Senator MILLER


MO109006/DI 58
2012