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2020 SESSION
HB 535 Real estate with delinquent taxes or liens; sales by nonprofit organizations.
Introduced by: Betsy B. Carr | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Real estate with delinquent taxes or liens; sales by nonprofit organizations. Provides that a nonprofit organization that acquires real estate with delinquent taxes or liens pursuant to the appointment of a special commissioner may sell to eligible purchasers either (i) both the land and structural improvements on a property or (ii) only the structural improvements of a property, without the land. The bill provides that a sale of only the structural improvements is permissible only if (a) the improvements are subject to a long-term ground lease with a community land trust and (b) the community land trust retains a preemptive option to purchase such improvements at a price determined by a formula that ensures that the improvements remain affordable in perpetuity to low-income and moderate-income families.
FULL TEXT
- 01/05/20 House: Prefiled and ordered printed; offered 01/08/20 20100584D pdf | impact statement
- 02/25/20 House: Bill text as passed House and Senate (HB535ER) pdf | impact statement
- 03/10/20 Governor: Acts of Assembly Chapter text (CHAP0244) pdf
HISTORY
- 01/05/20 House: Prefiled and ordered printed; offered 01/08/20 20100584D
- 01/05/20 House: Referred to Committee on Finance
- 01/14/20 House: Assigned Finance sub: Subcommittee #2
- 01/20/20 House: Subcommittee recommends reporting (7-Y 2-N)
- 01/22/20 House: Reported from Finance (18-Y 4-N)
- 01/24/20 House: Read first time
- 01/27/20 House: Read second time and engrossed
- 01/28/20 House: Read third time and passed House (82-Y 17-N)
- 01/28/20 House: VOTE: Passage (82-Y 17-N)
- 01/29/20 Senate: Constitutional reading dispensed
- 01/29/20 Senate: Referred to Committee on Finance and Appropriations
- 02/18/20 Senate: Reported from Finance and Appropriations (15-Y 0-N)
- 02/19/20 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/20/20 Senate: Read third time
- 02/20/20 Senate: Passed Senate (40-Y 0-N)
- 02/25/20 House: Enrolled
- 02/25/20 House: Bill text as passed House and Senate (HB535ER)
- 02/25/20 House: Signed by Speaker
- 02/26/20 Senate: Signed by President
- 03/03/20 House: Enrolled Bill communicated to Governor on March 3, 2020
- 03/03/20 Governor: Governor's Action Deadline 11:59 p.m., March 10, 2020
- 03/10/20 Governor: Approved by Governor-Chapter 244 (effective 7/1/20)
- 03/10/20 Governor: Acts of Assembly Chapter text (CHAP0244)