22 Hoosier Banker June 2015 Continued from page 21. a certified public accountant, if the board determines it advisable. Establishes a plan administrative fund to pay any administrative expenses incurred in developing, implementing and operating the plan. Requires that the plan be maintained as individual retirement accounts with contributions made by payroll deduction and be offered to employees who elect to enroll by employers that voluntarily choose to participate and do not offer any other kind of retirement plan. Provides that the state, the board and participating employers are not fiduciaries for the plan, and that the plan is not a debt, liability or obligation of the state. Requires the board, before the plan takes effect, to oversee the design and dissemination to all employers eligible to participate in the information about the plan. Provides that the board maintain an Internet website to assist employers in identifying private-sector providers of available pension and retirement plans, if providers express interest in and provide the funding for the Internet website. Details: A statewide retirement plan structured through the state has been a goal of the AARP for the past two years. This bill is the second attempt by the AARP to create some type of new retirement plan or program to address the AARP-stated issue of the inadequate and unavailable retirement accounts for many Hoosiers. The debate on this issue centered on HB 1279. The IBA was concerned about the creation of a state-run retirement plan that would compete directly with products already offered by banks. The bill ultimately evolved, with the work of Rep. Lehman, into a state-run portal for consumers that was governed by a state board. This portal would market retirement products offered by lenders, life insurance companies and others. The IBA expressed concerns related to the creation of a state board with the ability to govern the retirement products available in the portal. Outcome: The bill author withdrew the bill from consideration. HB 1314 – Abandoned and Vacant Property Rep. Gail Riecken, D-Evansville Bill summary: Specifies that there must be delinquent property taxes or special assessments on real property before it may be sold by the county treasurer as abandoned or vacant property. Provides that an order of a local building standards hearing authority that real property is abandoned or vacant, combined with nonpayment of the associated penalty, permits the executive of the county, city or town to certify to the county auditor that the real property should be sold as abandoned or vacant property. Provides that a hearing authority may use the same standards that are used by a court in finding that real property is abandoned or vacant for purposes of selling the real property at an abandoned and vacant property sale. Permits a county, city or town executive to use the courts instead of a hearing authority for the determination that a property is abandoned or vacant. Specifies that the county treasurer, not the county auditor, is to auction abandoned or vacant property. Eliminates the concept of redemption after sale regarding abandoned or vacant property to be sold by the county treasurer. Provides that the county, city or town executive that certifies a property as abandoned or vacant has an option to take ownership of the property, if the minimum bid is not received. Separates out several provisions concerning abandoned and vacant property sales from delinquent tax sales and makes related changes. Makes technical corrections. Outcome: The bill did not receive a hearing. HB 1328 – Liens on Real Property Rep. Harold Slager, R-Schererville Bill summary: Notice of intent - Provides that if: (1) a person intends to acquire a lien on real property after June 30, 2015; and (2) there is no requirement under any other state law that the person or another person must notify the owner of the real property of the person’s intention to acquire the lien; the person who wishes to acquire the lien must file a sworn statement and notice of the person’s intention to acquire the lien in the county recorder’s office of the county in which the real property is located. County recorder - Requires the county recorder to: (1) record a copy of the statement and notice of intention in the appropriate record book of the county recorder’s office; (2) send by first-class mail a copy of the statement and notice of intention to the owner of the real property; and (3) collect a fee of $2 from the person who filed the statement and notice of intention for each statement and notice of intention that is sent by first-class mail. Outcome: The bill did not receive a hearing. HB 1411 – Foreclosure Prevention and Post-Foreclosure Leases Rep. Dan Forestal, D-Indianapolis Bill summary: Consideration of evidence - Requires a court, in a mortgage foreclosure action with respect to an occupied dwelling, to consider evidence concerning the effect of the foreclosure. Requires the court to withhold entry of judgment in a foreclosure action for 180 days if the court finds: (1) entry of a judgment of foreclosure will have a negative effect on the occupant or neighborhood or may lead to the house becoming vacant; and (2) there is a reasonable possibility that withholding entry of judgment in a foreclosure action will reduce the negative effects. Court discretion renting - Permits a court to require a mortgagee to rent a dwelling to the debtor after entry of the judgment of foreclosure, if the mortgagee does not intend to file a praecipe for sale within 60 days after entry of the judgment and certain other conditions are met. Provides that certain maintenance obligations that apply to landlords do not apply to a mortgagee-landlord. Outcome: The bill did not receive a hearing.
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