Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee sends consumer-protection bill on excess proceeds to the Assembly floor after debate over fee cap
Summary
AB 27 05 would require written agreements, prohibit upfront fees, and cap third-party asset-finder fees at 10% when helping claim excess proceeds from tax-defaulted property sales. County treasurers supported the consumer-protection framework; private recovery firms argued a fixed cap would prevent complex claims from being handled. The committee voted to send the bill to the Assembly floor.
AB 27 05, presented as a consumer-protection bill, would create uniform requirements for third parties that locate or assist claimants in recovering excess proceeds from tax-defaulted property sales: a written agreement, a prohibition on collecting fees before claim approval, and a 10%…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
