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Hearing on HB 420: sponsors seek to close tax‑foreclosure "equity stripping" loophole; county treasurers warn of operational and fiscal impacts
Summary
Representative Carrie Seakins Crowe says HB 420 would close a loophole allowing governments or assignees to keep more than owed after tax foreclosures on nonresidential property, citing the Supreme Court Tyler decision; county treasurers and title industry opponents urged extensive technical amendments to address valuation math, redemption periods and auction/notice costs.
Representative Carrie Seakins Crowe opened House Bill 420 as legislation to "end equity theft in Montana," saying state law currently allows uncompensated takings on some nonresidential properties and that the U.S. Supreme Court's Tyler decision supports reform. She said the bill would ensure constitutional just compensation where governments or third parties foreclose tax liens and claim excess proceeds.
Civil liberties and property‑rights groups testified in favor. Henry Seaton…
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