96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0060


 
Introduced 1/30/2009, by Sen. Matt Murphy
 
SYNOPSIS AS INTRODUCED:
 		














35 ILCS 200/21-215









    Amends the Property Tax Code.  In a Section concerning penalty bids, provides that no bid shall be accepted for a penalty exceeding 6% (instead of 18%) of the
amount of the tax or special assessment on property.  Effective immediately.
















LRB096 03565 HLH 13590 b

















FISCAL NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB0060

LRB096 03565 HLH 13590 b






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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 21-215 as follows:
 



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    (35 ILCS 200/21-215)



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    Sec. 21-215. Penalty bids. The person at the sale offering 
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to pay the amount
due on each property for the least penalty 
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percentage shall be the purchaser of
that property. No bid 
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shall be accepted for a penalty exceeding 6% 18% of the
amount 
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of the tax or special assessment on property.

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(Source: P.A. 86-1431; 86-1480; 88-455.)

 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.