A 794 changesModifies procedures for determination and payment of fair market value in distressed municipalities; concerns real property that is abandoned, vacant, or subject to unpaid taxes.

What changed

+1079 / −1699 words · LargeConfidence: high

This version completely restructures the bill by removing the entire legislative preamble and procedural framework and replacing it with an Assembly Housing Committee statement. The removed sections eliminated detailed procedures for distressed municipalities to acquire vacant, abandoned, or tax-delinquent properties, including alternative acquisition methods, compensation calculations allowing deduction of unpaid taxes and liens, trust fund procedures for absent owners, and notice and appeal requirements for property owners facing municipal action. The replacement committee statement, dated May 14, 2026, introduces new quantitative thresholds that were previously unspecified: distressed municipality status now requires a municipal revitalization index score of 45 or greater for three years, and vacancy or abandonment determinations require at least four of 14 qualifiers. The committee statement retains the core concept that distressed municipalities may use eminent domain or purchase at fair market value while offsetting unpaid taxes, but eliminates the granular procedural safeguards for property owners.

Change log

• PREAMBLE

  modifiedhigh confidence

  Replaces legislative preamble with Assembly Housing Committee statement

  This section replaces the initial legislative preamble (including sponsor information, findings, and enactment clause) with an Assembly Housing Committee statement dated May 14, 2026. The new text describes amendments made by the committee and provides a summary of the bill's provisions. The committee statement explains that distressed municipalities may acquire certain properties through eminent domain or purchase at fair market value, defines distressed municipalities as those with a municipal revitalization index score of 45 or greater, and specifies that municipalities may offset unpaid taxes against compensation owed to property owners.

• PREAMBLE >cont.

  removedhigh confidence

  Entire preamble section describing distressed municipality property acquisition procedures removed

  The bill removes a lengthy preamble section that described procedures for distressed municipalities to acquire vacant, abandoned, or tax-delinquent real property. The removed text outlined alternative acquisition methods (direct purchase at fair market value or eminent domain), compensation calculations allowing deduction of unpaid taxes and liens, trust fund procedures when property owners cannot be located, and clarifications that these provisions do not supersede existing foreclosure laws. The section is being completely struck from the bill.

• PREAMBLE >cont.

  removedhigh confidence

  Deletion of municipal procedures for notice and appeal regarding vacant or abandoned property determinations