The bill amends the General Property Tax Act of 1893, specifically sections 78g and 78q, to enhance the procedures for the forfeiture and redemption of properties due to unpaid taxes. Key updates include the requirement that properties certified as abandoned or delinquent will be forfeited to the county treasurer, along with the introduction of a new fee of $175 for each unpaid property. The bill clarifies the timeline for the foreclosing governmental unit's right to possession and the process for recording forfeiture certificates. It also establishes conditions under which forfeited properties can be redeemed, potentially allowing for reduced payment amounts for certain property owners.

Additionally, the bill introduces a payment reduction program for properties with unpaid taxes, which allows for reductions based on criteria such as taxable value and payment history. It mandates the cancellation of any remaining unpaid taxes, interest, penalties, and fees if property owners comply with the program's terms. The bill outlines the notification process for local governments regarding their participation and sets guidelines for the distribution of payments collected. It also defines "local unit of government" and allows for the creation of delinquent property tax installment payment plans for financially distressed individuals, including provisions for interest waivers upon successful completion. Tax foreclosure avoidance agreements can be established by county treasurers for up to five years, with specific conditions and eligibility criteria to support financially distressed property owners.

Statutes affected:
Senate Introduced Bill: 211.78