HB 403 (BR 276) - J. Jenkins, S. Riggs
AN ACT relating to land bank authorities.
Amend KRS 65.350 to define "certificate of delinquency", "fee office", "local government lien" and "taxing jurisdiction; amend KRS 65.355 to expand the authority of land bank authorities; amend KRS 65.360 to clarify membership of the land bank authority; amend KRS 65.365 to update mailing list requirements; amend KRS 65.370 to update notice provisions; amend KRS 65.375 to clarify provisions relating to conveyance of property to the land bank upon sale with no satisfactory bid, to provide that all government taxes and liens shall be extinguished upon transfer to the land bank, to allow the land bank to keep proceeds from the sale of property, and to provide that the land bank shall receive a portion of property tax collected on property sold by the land bank for five years following the sale; amend KRS 99.715 to allow cities to transfer property to a land bank.
HB 403 - AMENDMENTS
HCS - Retain original provisions; make technical corrections; amend KRS 65.375 to require the land bank authority to make a motion to the court to obtain title to property, rather than having that process occur automatically when a bid in the full amount of all government taxes and liens is not received at the commissioner's sale.
HFA (1, J. Jenkins) - Retain original provisions; clarify the definition of "blighted or deteriorated"; amend provisions relating to the process when the authority obtains a judgment against property and there is no bid at the sale that is equal or greater to the total amount of government certificates and liens to require that the authority notify any highest bidder at the sale of its intent to seek title to the property; require the highest bidder to have 30 days to amend its bid so that all government certificates and liens are satisfied; clarify that the extinguishment of all liens and encumbrances against a property when the land bank takes title does not impact any in personam actions against the former owner of the property or any person responsible for the payment of taxes on the property.
Feb 18-introduced in House
Feb 19-to Local Government (H)
Feb 26-posted in committee
Mar 5-reported favorably, 1st reading, to Calendar with Committee Substitute
Mar 6-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, March 7, 2014
Mar 13-floor amendment (1) filed to Committee Substitute
Mar 17-3rd reading, passed 69-22 with Committee Substitute, floor amendment (1)
Mar 18-received in Senate
Mar 19-to Licensing, Occupations, & Administrative Regulations (S)