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Bill

A 4466

Requires multiple liens on farm property to be paid in chronological order, with the earliest lien being paid off first and the most recent being paid last

2025 Regular Session Introduced by Maritza Davila and 7 co-sponsors

Bill A 4466 requires farm property liens to be paid in the order they were filed, ensuring fairness for farmers and protecting earlier lienholders' interests.

REFERRED TO REAL PROPERTY TAXATION
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WeVote Research Nonpartisan
Bill Summary · A 4466

Summary of Bill A 4466

Bill Information

  • Bill Number: A 4466
  • Title: Requires multiple liens on farm property to be paid in chronological order
  • Status: Referred to Real Property Taxation
  • Introduced: February 04, 2025
  • Classification: Bill

Purpose and Intent

Bill A 4466 aims to establish a clear and systematic approach for the payment of multiple liens placed on farm properties. The primary intent is to ensure that liens are settled in the order they were recorded, thereby providing a fair and predictable framework for farmers and creditors alike.

Key Provisions

  • Chronological Payment Order: The bill mandates that when multiple liens exist on a farm property, they must be paid off in the order they were filed. This means that the earliest lien must be satisfied first, followed by subsequent liens in the order of their recording.
  • Impact on Liens: This provision is designed to protect the interests of earlier lienholders and ensure that they receive payment before more recent claims are addressed.

Who Would Be Affected

  • Farm Property Owners: Farmers who have multiple liens on their properties will be directly impacted, as the bill will change the order in which they can settle these debts.
  • Creditors and Lienholders: Lenders and other entities holding liens will also be affected, as their ability to collect on debts will be influenced by the chronological payment requirement.

Procedural Aspects

  • Current Status: As of February 4, 2025, the bill has been referred to the Real Property Taxation committee for further consideration.
  • Related Legislation: The bill has several related bills from prior sessions, including:
    • S 6431
    • S 212
    • S 2864
    • S 2084
    • A 8129
    • A 3966
    • S 1785 (companion bill)

Conclusion

Bill A 4466 seeks to create a structured process for the payment of liens on farm properties, which could enhance financial clarity and fairness for both property owners and lienholders. As it progresses through the legislative process, stakeholders in the agricultural sector and the financial community will be closely monitoring its developments.

Compiled from official sources — confirm details with the bill’s official record.

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