Illinois General Assembly - Bill Status for SB2029

Synopsis As Introduced
Amends the Property Tax Code. Provides that, when the county, as trustee, files one petition for more than one delinquent tax lien or certificate, the county may request that the court issue a tax deed to the county, as trustee, without holding a judicial tax deed auction. Provides that the county shall offer the parcel for sale at a public auction within 120 days of recording the tax deed. Sets forth requirements for the county auction. Provides that any owner of property sold under any provision of the Code who sustains loss or damage by reason of the issuance of a tax deed shall have the right to recover surplus equity that was lost in the property through an award of indemnity. Amends the Mortgage Rescue Fraud Act. Provides that a distressed property conveyance contract must contain a statement that the property owner may have the right to obtain money for any equity lost if a tax deed is issued. Effective immediately.

Actions

Date	Chamber	Action
2/6/2025	Senate	Filed with Secretary by Sen. Celina Villanueva
2/6/2025	Senate	First Reading
2/6/2025	Senate	Referred to Assignments
2/25/2025	Senate	Assigned to Revenue
3/4/2025	Senate	Added as Co-Sponsor Sen. Graciela Guzmán
3/14/2025	Senate	Added as Co-Sponsor Sen. Willie Preston
3/21/2025	Senate	Rule 2-10 Committee Deadline Established As April 11, 2025
4/11/2025	Senate	Rule 2-10 Committee Deadline Established As May 9, 2025

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