This bill amends 68 O.S. 2021, Section 3130, which pertains to the collection of delinquent taxes and the handling of proceeds from the resale of property. The new language specifies that while the county treasurer collects tax proceeds from individual purchasers at resale, any excess proceeds that cannot be returned to the original property owner after reasonable efforts must be transferred to the State Treasurer. These funds will then be deposited into the Unclaimed Property Fund, which is established under Section 668 of Title 60 of the Oklahoma Statutes.

The bill aims to streamline the process of managing excess proceeds from property resales, ensuring that unclaimed funds are directed to the state for broader use rather than remaining unaccounted for. The effective date for this legislation is set for November 1, 2025.