Illinois General Assembly - Bill Status for HB3421
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 Bill Status of HB3421  104th General Assembly

Short Description:  PROP TX-EQUITY FUND

House Sponsors
Rep. Sonya M. Harper and Camille Y. Lilly

Last Action
DateChamber Action
  4/11/2025HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
30 ILCS 105/5.1030 new
35 ILCS 200/21-90
35 ILCS 200/21-295
35 ILCS 200/21-305
35 ILCS 200/22-40
35 ILCS 200/22-55
35 ILCS 200/22-100 new
35 ILCS 200/22-101 new


Synopsis As Introduced
Amends the Property Tax Code. Establishes an Equity Fund. Provides that moneys in the Equity Fund shall be expended exclusively for the purpose of paying the amount ordered for equity surplus payments to Illinois property owners who have lost their property by a recorded tax deed, except that, whenever the State Treasurer determines that any such moneys in the Equity Fund exceed the amount required for the purpose of paying equity surplus payments resulting from property ownership being divested by tax deed, the State Treasurer may transfer any such excess amounts from the Equity Fund to the General Revenue Fund. Provides for an irrevocable and continuing appropriation from Illinois tax lien purchasers for the purpose of paying equity surplus payments to the divested property upon the order of the State Treasurer and for the purpose of paying equity surplus to the divested property owner. In provisions concerning the indemnity fund, makes changes to the fees that are collected for tax sales in counties of 3,000,000 or more inhabitants. Sets forth an Equity Fund fee, calculation of the equity surplus, and an application process. Makes conforming and other changes. Amends the State Finance Act to make a conforming change.

Actions 
DateChamber Action
  2/7/2025HouseFiled with the Clerk by Rep. Sonya M. Harper
  2/18/2025HouseFirst Reading
  2/18/2025HouseReferred to Rules Committee
  3/11/2025HouseAssigned to Revenue & Finance Committee
  3/13/2025HouseTo Tax Policy: Other Taxes Subcommittee
  3/20/2025HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-002-000
  3/20/2025HouseReported Back To Revenue & Finance Committee;
  3/20/2025HouseDo Pass / Short Debate Revenue & Finance Committee; 013-007-000
  3/20/2025HousePlaced on Calendar 2nd Reading - Short Debate
  3/24/2025HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Sonya M. Harper
  3/24/2025HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  3/25/2025HouseHouse Floor Amendment No. 1 Rules Refers to Revenue & Finance Committee
  3/26/2025HouseSecond Reading - Short Debate
  3/26/2025HouseHeld on Calendar Order of Second Reading - Short Debate
  4/8/2025HouseAdded Co-Sponsor Rep. Camille Y. Lilly
  4/11/2025HouseRule 19(a) / Re-referred to Rules Committee
  4/11/2025HouseHouse Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

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