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Rep. André M. Thapedi
Filed: 3/15/2010
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09600HB6215ham002 |
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LRB096 16710 AMC 38927 a |
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| AMENDMENT TO HOUSE BILL 6215
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| AMENDMENT NO. ______. Amend House Bill 6215, AS AMENDED, by |
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| replacing everything after the enacting clause with the |
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| following:
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| "Section 5. The Code of Civil Procedure is amended by |
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| adding Section 15-1515 as follows:
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| (735 ILCS 5/15-1515 new) |
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| Sec. 15-1515. Health and safety assistance. |
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| (a) With respect to residential real estate, at the time of |
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| filing a foreclosure complaint, the plaintiff must pay the |
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| clerk of the court of the county that the mortgaged real estate |
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| is located, a fee for deposit into the Foreclosure Relief Fund. |
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| The fee that the plaintiff must pay is calculated at the rate |
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| of $1.25 for each $500 of value or fraction of $500 stated and |
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| sought by the plaintiff in the foreclosure complaint. |
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| (b) A special income-earning fund is hereby created in the |
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09600HB6215ham002 |
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LRB096 16710 AMC 38927 a |
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| State treasury, known as the Foreclosure Relief Fund. |
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| (c) All moneys deposited into the fund together with all |
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| accumulated undistributed income thereon shall be held as a |
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| special fund in the State treasury. The fund shall be used |
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| solely for the purpose of providing grants to units of local |
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| government and not-for-profit organizations, including, but |
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| not limited to, not-for-profit housing authorities and |
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| community organizations to clean up, acquire, or demolish |
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| residential real estate that has been abandoned, neglected, or |
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| otherwise in need of additional care following foreclosure. |
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| (d) The grant program shall be administered by the |
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| Department of Commerce and Economic Opportunity, which shall |
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| promulgate and adopt rules for the administration, operation, |
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| and maintenance of the grant program. |
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| (e) All fees paid by the plaintiff to the clerk of the |
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| court as provided in this Section, shall be disbursed within 60 |
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| days after receipt by the clerk of the court as follows: (i) |
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| 90% to the State Treasurer for deposit into the Foreclosure |
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| Relief Fund; (ii) 4% to the county that the mortgaged real |
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| estate is located, for deposit into the General Corporate Fund; |
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| (iii) 4% to the clerk of the court; and (iv) 2% to the |
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| administrator of the grant program as defined in this Section. |
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| (f) Not later than March 1 of each year, the clerk of the |
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| court shall submit a report of funds remitted under this |
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| Section during the preceding year based upon independent |
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| verification of fees collected to the administrator of the |
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09600HB6215ham002 |
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LRB096 16710 AMC 38927 a |
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| grant program as defined in this Section. |
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| (g) The Foreclosure Relief Fund shall not be subject to |
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| sweeps, administrative changes, chargebacks, or any other |
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| fiscal or budgetary maneuver that would in any way result in |
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| the transfer of any funds from the Foreclosure Relief Fund to |
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| any other Fund of this State, or having any such funds utilized |
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| for any purpose other than to pay for the costs of the grant |
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| program.
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| Section 10. The State Finance Act is amended by adding |
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| Section 5.756 as follows:
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| (30 ILCS 105/5.756 new) |
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| Sec. 5.756. The Foreclosure Relief Fund.
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.".
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