This bill proposes updates to section 42-18201 of the Arizona Revised Statutes regarding property tax lien foreclosure. It introduces new language that replaces the term "purchaser" with "certificate of purchase holder" throughout the statute, clarifying who may initiate foreclosure actions. Additionally, it adds a new subsection (C) that prohibits certificate of purchase holders from foreclosing on properties that serve as the owner's primary residence, while also outlining methods for the county treasurer to recover redemption amounts, including setoff requests, garnishing earnings, and payment plans.

The bill also extends the timeframe for filing foreclosure actions by twelve months if a law or court order prevents such actions, ensuring that the rights of certificate of purchase holders are protected during prohibitive circumstances. Furthermore, the act specifies that these changes will apply to tax liens sold from the effective date of the act onward, thereby modernizing the existing statutes to better reflect current practices and protections for property owners.

Statutes affected:
Introduced Version: 42-18201