STATEMENT TO

[First Reprint]

SENATE COMMITTEE SUBSTITUTE FOR

SENATE, No. 1091

with Senate Floor Amendments

(Proposed By Senator BENNETT)

ADOPTED: NOVEMBER 7, 1996

      These amendments to section 17 of this bill:

      * Clarify the terminology relating to the amount to be paid to the total property tax levy purchaser by the municipal tax collector.

      * Provide the total property tax levy purchaser with the right, but not the obligation, to also purchase under certain conditions a municipality's inventory of tax liens that have gone unsold for many years.

      * Provide for a sunset provision on a total property levy purchaser’s right or obligation to pay subsequent taxes, municipal liens or other charges.