Bill Text: AZ SB1463 | 2016 | Fifty-second Legislature 2nd Regular | Introduced
Bill Title: Elderly assistance fund; restore funding
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2016-02-03 - Referred to Senate FIN Committee [SB1463 Detail]
Download: Arizona-2016-SB1463-Introduced.html
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REFERENCE TITLE: elderly assistance fund; restore funding |
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State of Arizona Senate Fifty-second Legislature Second Regular Session 2016
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SB 1463 |
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Introduced by Senators Meza, Hobbs, Miranda
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AN ACT
Amending section 42-18153, Arizona Revised Statutes; repealing laws 2015, chapter 324, section 2; relating to the elderly assistance fund.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 42-18153, Arizona Revised Statutes, is amended to read:
42-18153. Amount required for redemption; elderly assistance fund deposit
A. Except as provided by subsection B of this section, 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 pursuant to section 42-17401, 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 the difference in the amount of interest prescribed by section 42-18053 and the amount of interest stated in the certificate of purchase.
Sec. 2. Repeal
Laws 2015, chapter 324, section 2 is repealed.
