PROP TX-LIABILITY FOR WASTE

Amends the Property Tax Code. Provides that if a county or municipality acquires certain property on which taxes are delinquent, the county or municipality may petition the circuit court to determine (i) that waste was committed or suffered on the property on or after the date the taxes on the property first became delinquent and (ii) the extent to which the waste diminished the fair market value of the property. Holds each person whose acts or omissions caused the waste jointly and severally liable for (i) the entire amount of the delinquency and (ii) damages based on the amount of the diminishment. Imposes criminal penalties for intentional waste of the property. Effective immediately.