Bill > SB765

This bill establishes a "Legacy Protection Program" administered by the State Tax Sale Ombudsman to help heirs who inherit a dwelling, allowing them to become the official owner (record title holder), prevent their inherited home from being sold due to unpaid taxes, and remain living in the home. The bill expands the definition of "homeowner" to include the estate, personal representative, or an heir or legatee of a deceased homeowner entitled to inherit the dwelling, thereby making these individuals eligible for assistance from the Ombudsman. It also creates a dedicated "Legacy Protection Fund" to finance this program, funded by state appropriations and contributions from county governments, and clarifies that interest earned on this fund will accrue to the General Fund of the State, with specific exceptions including the Legacy Protection Fund itself. Additionally, the bill allows heirs to receive property tax credits for up to three years even if they are not yet the record title holder, provided they meet other eligibility requirements, and increases the maximum value of a dwelling for which an heir can receive free legal assistance or grants to cover probate fees and inheritance taxes from $350,000 to $450,000. The bill also makes changes to when certain provisions take effect, with Section 1 becoming effective July 1, 2027, and Section 2 applicable to taxable years beginning after June 30, 2026, while the rest of the act takes effect June 1, 2026.