97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB1912
 
Introduced , by Rep. John E. Bradley
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 200/21-398 new

     Amends the Property Tax Code.  Provides that the county clerk shall distribute any redemption payments, along with any accrued interest and penalties, to the holder of the certificate of purchase (i)  within 15 business days after payment is received from the redeeming party or (ii) upon surrender of the certificate of purchase by the certificate holder, whichever occurs later.  Provides that, if a redemption payment is made under protest, the county clerk shall distribute the redemption money within 15 business days  after a certified copy of the court order directing the county clerk to make such a distribution is presented to the county clerk.  Requires tax purchasers to notify the county clerk if the certificate of purchase is assigned or reassigned.  Excludes partial redemption payments and redemption payments that have been set aside by court order.    Provides that the Section does not apply in counties with more than 3,000,000 inhabitants.  Effective January 1, 2012.
  


LRB097 09103 HLH 49238 b

FISCAL NOTE ACT MAY APPLY
STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT
 
 
A BILL FOR
 

  
HB1912LRB097 09103 HLH 49238 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Property Tax Code is amended  by adding 
5Section 21-398 as follows:
 
6    (35 ILCS 200/21-398 new)
7    Sec. 21-398. Payments to certificate holders.
8    (a) Except as provided in subsections (b), (c), and (d), 
9the county clerk shall distribute any redemption payments, 
10along with any accrued interest and penalties, to the holder of 
11the certificate of purchase (i)  within 15 business days after 
12payment is received from the redeeming party or (ii) upon 
13surrender of the certificate of purchase by the certificate 
14holder, whichever occurs later.  The county clerk shall notify 
15the certificate holder within 5 business days, either 
16electronically or in writing, that the taxes have been 
17redeemed.
18    (b)  If a payment is made under protest as provided in 
19Section 21-380 of this Code, then the county clerk shall 
20distribute the redemption money to the holder of the 
21certificate of purchase within 15 business days after a 
22certified copy of the court order directing the county clerk to 
23make such a distribution is presented to the county clerk. 
 
 
HB1912- 2 -LRB097 09103 HLH 49238 b

1    (c) Partial redemption payments shall be distributed as 
2provided in Section 21-375. 
3    (d) If an order is entered setting aside a redemption, then 
4any prior distributions to the holder of the certificate of 
5purchase must be refunded to the county clerk and redemption 
6payments shall be distributed as provided in Section 21-397. 
7    (e)  If the certificate of purchase is assigned or 
8reassigned to any party other than the tax purchaser, then the 
9tax purchaser must notify the county clerk of that fact within 
1015 business days after the reassignment occurs. 
11    (f)  This Section does not apply in counties with more than 
123,000,000 inhabitants. 
 
 
13    Section 99. Effective date. This Act takes effect January 
141, 2012.