Bill Text: CA AB2423 | 2013-2014 | Regular Session | Introduced

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Bill Title: Property taxation: tax sales: bidding.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-02-24 - Read first time. [AB2423 Detail]

Download: California-2013-AB2423-Introduced.html

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BILL NUMBER: AB 2423	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Conway

                        FEBRUARY 21, 2014

   An act to amend Section 3693 of the Revenue and Taxation Code,
relating to property taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2423, as introduced, Conway. Property taxation: tax sales:
bidding.
   Existing property tax law, with a specified exception, requires
tax sales of defaulted property to be held at public auction with the
sale to the highest bidder. Existing law authorizes the tax
collector to require a person to submit a deposit, by specified
method, as a condition to submitting a bid on property that is being
sold or as a payment toward specified property that is being sold, or
both.
   This bill would make a technical, nonsubstantive change to that
deposit provision.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 3693 of the Revenue and Taxation Code is
amended to read:
   3693.  (a) With the exception of the sealed bid sale procedures
authorized under Section 3692, all sales pursuant to this chapter
shall be at public auction to the highest bidder. The amount of the
high bid shall be paid by any method of payment authorized by Section
2502, 2503.2, or 2504, which method is at the discretion of the tax
collector. Unless otherwise specified by the tax collector, payment
is due on or before the close of auction.
   (b) The tax collector may require a person to submit a deposit, by
any method of payment authorized by Section 2502, 2503.2, or 2504,
for the purposes specified in this subdivision. A tax collector
 requiring   that requires  a deposit
pursuant to Section 3693.1 may determine, and shall provide public
notice before the date of the sale upon determining, all of the
following:
   (1) The method of payment of this deposit.
   (2) The amount of this deposit.
   (3) The due date of this deposit.
   (4) Whether the deposit will be applied for one or more of the
following purposes:
   (A) As a condition to submitting a bid on property that is being
sold under this chapter.
   (B) As a payment toward specified property that is being sold
under this chapter. If a deposit is applied for this purpose, the
deposit may be applied as payment toward more than one specified
property based upon the amount of the minimum bid for each property.