PROPOSED AMENDMENT
SENATE AMENDMENTS TO S.B. 1200
(Reference to printed bill)
Strike everything after the enacting clause and insert:
“Section 1. Section 42-18153, Arizona Revised Statutes, is amended to read:
42-18153. Amount required for redemption; elderly assistance fund deposit
A. To redeem a real property tax lien a person must pay to the county treasurer:
1. The amount for which the real property tax lien was sold, with interest at the rate stated in the certificate of purchase.
2. The amount of all taxes accruing on the real property after the sale and paid by the purchaser and endorsed on the certificate of purchase, with interest on the subsequent taxes at the same rate as stated in the certificate of purchase.
3. Any statutory fees paid by the purchaser or the purchaser's assigns in connection with the certificate, except the processing fee imposed by section 42-18116, subsection C, with interest at the rate stated in the certificate of purchase except as otherwise provided by this chapter.
B. To redeem a real property tax lien in a county that has established an elderly assistance fund a person shall pay to the county treasurer:
1. The amount for which the real property tax lien was sold, with interest at the rate prescribed by section 42-18053.
2. The amount of all taxes accruing on the real property after the sale and paid by the purchaser and endorsed on the certificate of purchase, with interest on the subsequent taxes at the same rate prescribed by section 42-18053.
3. Any statutory fees paid by the purchaser or the purchaser's assigns in connection with the certificate, except the processing fee imposed by section 42-18116, subsection C, with interest at the rate prescribed by section 42-18053 except as otherwise provided by this chapter.
C. After a real property tax lien is redeemed under subsection B of this section, and if an elderly assistance fund is established in the county pursuant to section 42-17401, the county treasurer shall deposit an amount in the elderly assistance fund that is equal to ninety per cent of the difference in the amount of interest prescribed by section 42-18053 and the amount of interest stated in the certificate of purchase. the remaining ten per cent of the difference will be deposited in the county general fund to be used by the county board of supervisors for outreach to inform the public of assistance programs available to qualified individuals and to provide assistance with applications for this program and other programs for qualified individuals. outreach funds not used shall be reverted to the elderly assistance fund by july 30 each year.”
Amend title to conform