Text: SSB00257 Text: SSB00259 Text: SSB00200 - SSB00299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 446.16, Code 1997, is amended to read 1 2 as follows: 1 3 446.16 BID PURCHASER. 1 4 1. The person who offers to pay the total amount due, 1 5 which is a lien on any parcel, for the smallest percentage of 1 6 the parcel is the purchaser, and when the purchaser designates 1 7 the percentage of any parcel for which the purchaser will pay 1 8 the total amount due, the percentage thus designated shall 1 9 give the person an undivided interest upon the issuance of a 1 10 treasurer's deed, as provided in chapter 448. If two or more 1 11 persons have placed an equal bid and the bids are the smallest 1 12 percentage offered, the county treasurer shall use a random 1 13 selection process to select the bidder to whom a certificate 1 14 of purchase will be issued. 1 15 2. Notwithstanding subsection 1, as soon as two or more 1 16 bids are placed on the delinquent taxes for a parcel, the 1 17 treasurer may, at that time, use a random selection process to 1 18 select the bidder to whom a certificate of purchase will be 1 19 issued. 1 20 3. The delinquent tax lien transfers with the tax sale 1 21 certificate, whether held by the county or purchased by an 1 22 individual, through assignment or direct purchase at the tax 1 23 sale. The delinquent tax sale lien expires when the tax sale 1 24 certificate expires. 1 25 Sec. 2. This Act, being deemed of immediate importance, 1 26 takes effect upon enactment. 1 27 EXPLANATION 1 28 This bill allows a county treasurer to use a random 1 29 selection process as soon as two or more bids for a 1 30 certificate of purchase for delinquent taxes are placed. 1 31 Currently, the random selection process is allowed only when 1 32 two or more equal bids are placed on the smallest percentage 1 33 interest in the property. 1 34 The bill is effective upon enactment. 1 35 LSB 2751XC 77 2 1 sc/jw/5
Text: SSB00257 Text: SSB00259 Text: SSB00200 - SSB00299 Text: SSB Index Bills and Amendments: General Index Bill History: General Index
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