Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 200/21-295

(35 ILCS 200/21-295)

Sec. 21-295. Creation of indemnity fund.

(a) In counties of less than 3,000,000 inhabitants, each person
purchasing any property at a sale under this Code shall pay
to the County Collector, prior to the issuance of any certificate of purchase,
an indemnity fee set by the county collector of not more than $20 for each item purchased.  A like sum shall be paid for each year
that all or a portion of
subsequent taxes are paid by the tax purchaser
and posted to
the tax judgment, sale, redemption and forfeiture record where the underlying
certificate of purchase is recorded.

(a-5) In counties of 3,000,000 or more inhabitants, each person purchasing
property at a
sale under this Code shall pay to the County Collector a
nonrefundable fee of $80
for each item purchased plus an additional sum equal to 5% of the taxes,
interest, and penalties paid
under Section 21-240.  In these counties, the certificate holder shall also pay
to the County Collector a fee of $80 for each year that all or a portion of
subsequent taxes are paid by the tax purchaser and posted to the tax judgment,
sale, redemption, and forfeiture record.
The changes to this subsection made by this amendatory Act of the 91st
General Assembly are not a new enactment, but declaratory of existing law.

(b) The amount paid prior to issuance of the certificate of purchase
pursuant to subsection (a) or (a-5) shall be included in the purchase price of
the property in the
certificate of purchase and all amounts paid under this Section shall be
included in the amount
required to redeem under Section 21-355, except for the nonrefundable $80 fee for each item purchased at the tax sale as provided in this Section.
Except as otherwise provided in subsection (b) of Section 21-300, all
money received under subsection (a) or (a-5) shall be paid by the Collector
to the
County Treasurer of the County in which the land is situated, for the purpose
of an indemnity fund. The County Treasurer, as trustee of that fund, shall
invest all of that fund, principal and income, in his or her hands from time to
time, if not immediately required for payments of indemnities under subsection
(a) of Section 21-305, in investments permitted by the Illinois State Board of
Investment under Article 22A of the Illinois Pension Code.  The county
collector shall report annually to the county clerk on the condition and
income of the fund. The indemnity fund shall be held to satisfy judgments
obtained against the County Treasurer, as trustee of the fund. No payment shall
be made from the fund, except upon a judgment of the court which ordered the
issuance of a tax deed.

(Source: P.A. 100-1070, eff. 1-1-19; 101-659, eff. 3-23-21.)