New York A09116 aims to prevent municipalities from selling tax liens on real property to private entities, establish a homeowner protection fund.

New York A09116 amends the real property tax law to prohibit municipalities from selling tax liens on real property to private entities, trusts, or third-party servicers. The bill establishes the homeowner protection fund, which will receive moneys appropriated for the fund and use them to implement a grant program for municipalities. The grant program aims to collect unpaid real property and school taxes, and water and sewer charges without resorting to tax lien sales. The bill also repeals certain provisions related to the foreclosure of real property tax liens.

New York A09116 aims to prevent municipalities from selling tax liens on real property to private entities, establish a homeowner protection fund.

New York A09116 amends the real property tax law to prohibit municipalities from selling tax liens on real property to private entities, trusts, or third-party servicers. The bill establishes the homeowner protection fund, which will receive moneys appropriated for the fund and use them to implement a grant program for municipalities. The grant program aims to collect unpaid real property and school taxes, and water and sewer charges without resorting to tax lien sales. The bill also repeals certain provisions related to the foreclosure of real property tax liens.