AN ACT CONCERNING THE ASSIGNMENT OF CERTAIN LIENS.

SB 1339 allows municipalities to sell unpaid property tax liens to private buyers (assignees) through written contracts. The law requires assignees to provide property owners with contact details, disclose legal history, and follow strict rules about foreclosure timelines (no action before one year post-purchase) and attorney fees. It sets a new 12% annual interest rate on delinquent taxes for assignments after July 2026 and mandates written notice to owners and mortgage holders about lien assignments. This directly affects property owners with unpaid taxes, municipalities seeking revenue, and private companies purchasing tax liens.