2015 Senate Bill 81 ↩

Senate Roll Call 34: Passed

To revise a provision that allows a bank or other lending institution that has foreclosed on a residence to retain the previous owner’s principal residence exemption on for up to three years. The bill would reduce that to two years, but eliminate a requirement that the lending institution must pay what it otherwise would have paid in school operating taxes without the exemption (the requirement means the lender doesn’t actually save any money, but keeping the “exemption” reportedly makes it easier to sell the property to a new homeowner).