97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB3147

 

Introduced 2/1/2012, by Sen. Thomas Johnson

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/21-215

    Amends the Property Tax Code. In a Section concerning penalty bids at the annual tax sale, provides that no bid shall be accepted for a penalty exceeding 9% (instead of 18%) of the amount of the tax or special assessment on property. Effective immediately.


LRB097 19108 HLH 64348 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB3147LRB097 19108 HLH 64348 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 changing
5Section 21-215 as follows:
 
6    (35 ILCS 200/21-215)
7    Sec. 21-215. Penalty bids. The person at the sale offering
8to pay the amount due on each property for the least penalty
9percentage shall be the purchaser of that property. No bid
10shall be accepted for a penalty exceeding 9% 18% of the amount
11of the tax or special assessment on property.
12(Source: P.A. 86-1431; 86-1480; 88-455.)
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.