Bill > SB102

Here is a summary of the key provisions of the bill: This bill, named the Gus Frangos Act, makes comprehensive changes to Ohio's laws regarding tax foreclosures and county land reutilization corporations. The bill consolidates and streamlines procedures for handling delinquent properties, particularly those that are abandoned or nonproductive. Key provisions include: 1. Modifying foreclosure procedures to provide more flexibility for counties and land reutilization corporations in handling tax-delinquent properties. This includes creating clearer processes for: - Identifying and classifying abandoned or nonproductive lands - Conducting tax certificate sales - Initiating foreclosure proceedings - Transferring properties to electing subdivisions or land reutilization corporations 2. Expanding the powers of county land reutilization corporations, including: - Allowing more flexible acquisition and disposition of properties - Providing immunity from certain liability for environmental or other issues - Creating additional funding mechanisms through tax certificate sales and property transfers 3. Establishing new provisions for: - Alternative redemption periods for foreclosed properties - Simplified transfer processes for nonproductive lands - Enhanced protections for municipalities and counties acquiring tax-delinquent properties 4. Removing several existing statutes related to foreclosure and land reutilization, effectively consolidating and modernizing the legal framework for handling tax-delinquent properties. 5. Creating mechanisms to more efficiently return abandoned or nonproductive properties to productive use, potentially generating tax revenue and addressing community blight. The bill represents a significant overhaul of Ohio's approach to managing tax-delinquent and abandoned properties, with a focus on creating more streamlined and effective processes for local governments and land reutilization corporations.

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https://www.legislature.ohio.gov/legislation/136/sb102