The bill, HB 659, addresses the regulations surrounding tax sale properties, specifically focusing on the actions of acquiring persons during the redemptive period. It prohibits these individuals from charging rental or lease payments to the owners or occupants of the property and from making any constructions or improvements during this time. If an acquiring person violates these provisions, they will incur a penalty of five percent of the price paid for the tax title and five percent of any rental or lease payments received from the tax debtor. Additionally, the bill introduces a new penalty whereby an acquiring person who violates these rules will forfeit any right to claim statutory impositions associated with the property, except for the delinquent amount of unpaid ad valorem taxes, if the property is redeemed according to the law.

The bill also includes technical amendments to reorganize the proposed law into separate paragraphs and removes references to the "redemptive period," opting instead for "redemption in accordance with law." The Conference Committee Report rejects certain Senate amendments that would have terminated the act if another bill (SB No. 505) was enacted. Overall, the bill aims to strengthen protections for tax debtors residing in properties sold at tax sales by increasing penalties for acquiring persons who engage in prohibited actions.

Statutes affected:
HB659 Original: 47:1(B)
HB659 Engrossed: 47:1(B)
HB659 Reengrossed: 47:1(B)
HB659 Enrolled: 47:1(B)
HB659 Act 627: 47:1(B)