Indiana House Bill 1280 (Prior Session Legislation)

---

Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on January 14 2014 - 25% progression, died in committee
Action: 2014-01-14 - Coauthored by Representatives Burton, Riecken
Pending: House Government and Regulatory Reform Committee
Text: Latest bill text (Introduced) [PDF]

Authorizes a county, consolidated city, or second class city to which the unsafe building law applies to establish a municipal corporation known as a land bank to manage and improve the marketability of distressed real property in the county or city that establishes the land bank. Provides that if a county executive acquires a certificate of sale because real property on the tax sale list failed to sell at the tax sale and the real property is located in the territory of a land bank, the county executive shall offer to assign the certificate of sale to the land bank at no cost. Changes the calculation of the amount required to redeem real property sold at a tax sale. Provides for the distribution to a land bank of all or part of the redemption interest paid to redeem property sold at a tax sale. Shortens the period during which a person who holds a tax sale certificate must apply for a tax deed. Provides that a land bank is entitled to a share of the property taxes attributable to real property sold by a land bank during a look back period. Provides that money held in an unsafe building fund may be used for the operation of a land bank.

Land banks and tax sale issues.

Rep. Edward Clere [R]

Rep. Charles Burton [R]

Rep. Gail Riecken [D]

Date	Chamber	Action
2014-01-14	House	Coauthored by Representatives Burton, Riecken
2014-01-14	House	First Reading: Referred to Government and Regulatory Reform
2014-01-13	House	Authored by Representative Clere.

Type	Source
Summary	https://iga.in.gov/legislative/2014/bills/house/1280/details
Text	http://iga.in.gov/static-documents/3/2/d/5/32d5469b/HB1280.01.INTR.pdf