Introduced By: Senators Walton, Goodwin and Perry
Date Introduced : February 5, 1998
It is enacted by the General Assembly as follows:
SECTION 1. Chapter 44-5 of the General Laws entitled "Levy and Assessment of Local Taxes" is hereby amended by adding thereto the following section:
{ADD 44-5-73. Authority granted to city and town collector's to assign and transfer tax liens in bulk. -- ADD} {ADD (a) Notwithstanding any of the provisions of chapter 9, title 44, any city or town may by resolution of its legislative body authorize its collector to assign for consideration, any and all liens for taxes assessed against any person in such city or town on real estate as constituted pursuant to section 44-9-1. ADD}
{ADD (b) The cities and towns may make regulations for the possession, management and sale or assignment, either individually or in bulk, of land purchased or taken for taxes, not inconsistent with law or the right of redemption. ADD}
{ADD (c) The collector of any city or town holding a tax title may assign and transfer such tax title, individually or in bulk, with other tax titles, either by public auction to the highest bidder or by direct sale, provided that the minimum sum so paid for such assignment is not less than the total amount necessary for the redemption of each individual tax title so assigned or at a rate which may be discounted to reflect uncollectable factors. ADD}
{ADD (d) The collector may execute and deliver on behalf of the city or town any instrument necessary therefore and accept on behalf of the city or town appropriate consideration pursuant to said regulations. ADD}
{ADD (e) The assignee or assignees of such liens or tax titles shall have and possess the same powers and rights at law and in equity as such city or town collector would have if the lien had not been assigned with regard to the precedence and priority of such lien, the accrual of interest and the fees and expenses of collections; and ADD}
{ADD (f) The assignee shall have the same rights to enforce such liens as any private party holding a lien on real property. ADD}
SECTION 2. This act shall take effect upon passage.
