95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1730


 
Introduced 2/9/2007, by Sen. Terry Link
 
SYNOPSIS AS INTRODUCED:
 		














35 ILCS 200/21-385









    Amends the Property Tax Code. Makes a technical change in a Section concerning extensions of periods of redemption.
















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A BILL FOR









 











SB1730

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    AN ACT concerning revenue.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Property Tax Code is amended  by changing 
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Section 21-385 as follows:
 



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    (35 ILCS 200/21-385)



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    Sec. 21-385. Extension of period of redemption. The

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purchaser or his or her assignee of property
sold for 
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nonpayment of general taxes or special assessments may extend 
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the
the period of redemption at any time before the expiration 
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of the
original period of redemption, or thereafter prior to 
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the expiration of any
extended period of redemption, for a 
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period which will expire not later than 3
years from the date 
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of sale, by filing with the county clerk of
the county in which 
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the property is located a written notice to that
effect 
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describing the property, stating the date of the sale and

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specifying the extended period of redemption.  If prior to the

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expiration of the period of redemption or extended period of 
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redemption
a petition for tax deed has been filed under Section

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22-30, upon application of the petitioner, the court shall 
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allow the
purchaser or his or her assignee to extend the period 
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of redemption after
expiration of the original period or any 
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extended period of redemption,
provided that any extension 
 


 






SB1730
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allowed will expire not later than 3 years from the
date of 
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sale.  If the period of redemption is extended, the purchaser or 
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his or
her assignee must give the notices provided for in 
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Section 22-10 at the
specified times prior to the expiration of 
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the extended period of redemption by
causing a sheriff (or if 
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he or she is disqualified, a coroner) of the county in
which 
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the property, or any part thereof, is located to serve the 
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notices as
provided in Sections 22-15 and 22-20.
The notices 
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may also be served as provided in Sections 22-15 and 22-20 by a

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special process server appointed by the court under Section 
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22-15.

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(Source: P.A. 91-209, eff. 1-1-00; 91-554, eff. 8-14-99.)