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Mackinac Center for Public Policy
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2013 Senate Bill 640: Facilitate "land bank" property acquisitions
  1. Introduced by Sen. Darwin Booher (R) on October 23, 2013, to allow “land bank” authorities to purchase tax-foreclosed the property for the “minimum bid” required (which is the amount back taxes, fees, interest and penalties), unless the state or a local government want to buy it. The bill would also repeal a requirement that local governments must hold two separate tax-foreclosed property auctions instead of just one. Note: According to recent news reports, some local governments have avoided the auction requirement by selling tax-foreclosed property to government "land bank" authorities, which turn around and sell the parcel at a profit.
    • Referred to the Senate Finance Committee on October 23, 2013.
    • Referred to the Senate Banking and Financial Institutions Committee on October 24, 2013.
      • Reported in the Senate on February 25, 2014, with the recommendation that the substitute (S-2) be adopted and that the bill then pass.

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