HB 2064 -- TAX FORECLOSURE SALES

CO-SPONSORS:  Walton, Villa, Gambaro

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Municipal Corporations by a vote of 9 to 0.

This bill authorizes a recording fee for a sheriff's deed given
under the St. Louis Municipal Land Reutilization Law.  The
recording fee must be assessed and collected from the purchaser
of the property at the same time the proceeds from the sale are
collected.  All deeds must be recorded within two months after
the sheriff's deed is given.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the bill will eliminate a loop
hole in the statutes which govern the purchase of property in tax
foreclosure sales in the City of St. Louis.  The loop hole has
contributed to the non-recording of property purchased at these
sales, the non-payment of property taxes on land purchased at
these sales, and the transfer of land purchased at these sales to
another owner before paying property taxes to the City of St.
Louis.

Testifying for the bill was Representative Walton.

OPPONENTS:  There was no opposition voiced to the committee.

Joseph Deering, Legislative Analyst

Missouri House of Representatives
Last Updated October 11, 2002 at 9:03 am