How AB 889 changes current law

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill modifies the distribution process of sale proceeds from tax delinquent property by eliminating the requirement for former owners to request payment and removing certain penalty fees.

• 75.36 (2m) (a)

  If the former owner submits to the county a written request within 60 days after receiving the notice to receive payment, the county will distribute the proceeds to the former owner, minus the amount of any delinquent taxes, interest, and penalties and minus the greater of the following:

  The requirement for former owners to request payment in order to receive proceeds is eliminated.

• 75.36 (3) (c)

  Distribute any remaining net proceeds to the former owner, as provided und → Distribute any remaining net proceeds that are subject to sub. (4) to the former owner, as provided under sub. (2m).

  Clarifies that remaining net proceeds will be distributed to the former owner as per the amended provisions.

• 75.36 (4)

  the penalty equal to 2 percent of the sales price.

  The additional penalty of 2 percent on the sales price is repealed.

• From the net proceeds of the sale of the property, as determined under par. (a), pay off any lien placed on the property at the time of the foreclosure sale in accordance with the contract or law giving rise to the lien.

  Introduces a new requirement to pay off any liens on the property from the sale proceeds.