House Study Bill 139 



                                       HOUSE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            JUDICIARY BILL BY
                                            CHAIRPERSON SWAIM)


    Passed House, Date               Passed Senate,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to bidders at a property tax sale and owners of
  2    tax sale certificates and including effective and
  3    applicability date provisions.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1163HC 83
  6 sc/rj/14

PAG LIN



  1  1    Section 1.  Section 446.16, Code 2009, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  4.  Only those persons as defined in
  1  4 section 4.1 are authorized to register to bid or to bid at the
  1  5 tax sale or to own a tax sale certificate by purchase,
  1  6 assignment, or otherwise.  To be authorized to register to bid
  1  7 or to bid at a tax sale or to own a tax sale certificate, a
  1  8 person, other than an individual, must have a federal tax
  1  9 identification number and either a designation of agent for
  1 10 service of process on file with the secretary of state or a
  1 11 verified statement meeting the requirements of chapter 547 on
  1 12 file with the county recorder of the county in which the
  1 13 person wishes to register to bid or to bid at tax sale or of
  1 14 the county where the property that is the subject of the tax
  1 15 sale certificate is located.
  1 16    Sec. 2.  EFFECTIVE AND APPLICABILITY DATES.  This Act,
  1 17 being deemed of immediate importance, takes effect upon
  1 18 enactment and applies to tax sales held on or after June 1,
  1 19 2009.
  1 20                           EXPLANATION
  1 21    This bill provides that a bidder at a tax sale for
  1 22 delinquent property taxes must meet the statutory definition
  1 23 of "person".  Code section 4.1, subsection 20, defines
  1 24 "person" and includes the following:  an individual,
  1 25 corporation, limited liability company, business trust,
  1 26 estate, trust, partnership or association, or any other legal
  1 27 entity.  The bill provides that, in order to register to bid
  1 28 or to bid at a tax sale or to own a tax sale certificate, a
  1 29 person, other than an individual, must have a federal tax
  1 30 identification number and either have filed with the secretary
  1 31 of state a designation of agent for service of process or have
  1 32 filed with the appropriate county recorder a verified
  1 33 statement of trade name of a business.
  1 34 LSB 1163HC 83
  1 35 sc/rj/14