Relating to disincentives for keeping residential real property vacant; declaring an emergency.

Imposes on owner of foreclosed residential real property liability to local government of $10 for each day that property remains unsold and vacant during period that begins 270 days after date of trustee's sale or judgment of foreclosure, unless owner demonstrates that property remains unsold and vacant because owner is renovating or substantially remodeling property. Declares emergency, effective on passage.