The proposed bill would amend several sections of the Arizona Revised Statutes related to judicial foreclosure of the right to redeem property tax liens. It would allow actions to foreclose the right to redeem to include requests for the court to determine the reasonableness of an excess proceeds sale, which is a sale of property to recover funds exceeding the outstanding costs. Additionally, it would permit both property owners and certificate holders to request this determination at any time before the court's judgment becomes effective. The bill also clarifies that any party entitled to a portion of the sale proceeds may initiate a civil action against the qualified entity responsible for distributing those proceeds if they fail to comply with statutory requirements.

Furthermore, the bill specifies the opening bid amount for excess proceeds sales and makes technical and conforming changes to existing statutes. It emphasizes that the qualified entity must distribute sale proceeds within 90 days and notify the court of compliance, with provisions for civil action against the entity for non-compliance. Overall, these updates aim to enhance the clarity and efficiency of the judicial foreclosure process while ensuring fair treatment of all parties involved.

Statutes affected:
Introduced Version: 42-18201, 42-18204, 42-18233, 42-18234, 42-18235, 42-18236, 42-18114, 42-18121, 42-18116, 9-276, 9-499, 42-18232
House Engrossed Version: 42-18201, 42-18204, 42-18233, 42-18234, 42-18235, 42-18236, 42-18114, 42-18121, 42-18116, 9-276, 9-499, 42-18232