2013 House Bill 4135

Let foreclosing banks claim homestead tax exemption

Introduced in the House

Jan. 30, 2013

Introduced by Rep. Frank Foster (R-107)

To grant a homestead property tax exemption for up to three years to a bank or other financial institution that has foreclosed and taken possession of a home because the borrower failed to make payments on the mortgage loan, as long as the property is for sale and not leased out.

Referred to the Committee on Tax Policy

April 10, 2013

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

March 27, 2014

Substitute offered

The substitute failed by voice vote

Substitute offered by Rep. Joseph Haveman (R-90)

To replace the previous version of the bill with one that revises details but does not change the substance as previously described.

The substitute passed by voice vote

Substitute offered

The substitute failed by voice vote

Passed in the House 85 to 23 (details)

To grant a homestead property tax exemption for up to three years to a bank or other financial institution that has foreclosed and taken possession of a home because the borrower failed to make payments on the mortgage loan, as long as the property is for sale and not leased out (even to the former owner).

Received in the Senate

April 22, 2014

Referred to the Committee on Finance

May 7, 2014

Reported without amendment

With the recommendation that the substitute (S­1) be adopted and that the bill then pass.