2013 House Bill 4233

Repeal tax-foreclosed property second-auction

Introduced in the House

Feb. 12, 2013

Introduced by Rep. Jim Ananich (D-49)

To repeal a requirement that local governments must hold two separate tax-foreclosed property auctions instead of just one. Under current law, the first auction can have a minimum bid requirement, but in the second auction the minimum bid can only be large enough to cover the cost of the auction. Note: According to recent news reports, some local governments have avoided the auction requirement by selling tax-foreclosed property to government "land bank" authorities, which turn around and sell the parcel at a profit.

Referred to the Committee on Local Government