Bill Status of SB1370  97th General Assembly


Short Description:  FORECLOSE-VACANT RESIDENC-FEE

Senate Sponsors
Sen. Martin A. Sandoval - Jacqueline Y. Collins and Annazette R. Collins

Last Action
DateChamber Action
  1/8/2013SenateSession Sine Die

Statutes Amended In Order of Appearance
20 ILCS 3805/7.32 new
735 ILCS 5/15-1504.2 new
30 ILCS 105/5.786 new


Synopsis As Introduced
Amends the Illinois Housing Development Act. Creates the Neighborhood Stabilization Program. Provides that the Illinois Housing Development Authority shall establish and administer the Program and use moneys in the Neighborhood Stabilization Program Fund, and any other funds appropriated for this purpose, to make grants to non-profit organizations that serve communities with high rates of residential foreclosures. Provides that the Authority shall promulgate rules, including emergency rules. Provides that subject to appropriation, the Authority shall make grants from the Neighborhood Stabilization Program Fund to approved non-profit organizations that serve communities with high rates of residential foreclosures. Defines terms. Amends the Code of Civil Procedure. Provides that for uninhabited residential real estate in foreclosure, from the time of the filing of a foreclosure complaint until the plaintiff no longer has any interest in the property, the plaintiff shall pay to the circuit clerk a fee of $1000 per month for each month that the residential real estate is not inhabited until the property is sold to a bona fide buyer who will either inhabit the premises or lease the property to a tenant for inhabitation within 90 days after the closing. Provides that fees collected shall be deposited into the Neighborhood Stabilization Fund, a special fund created in the State treasury. The clerk shall remit the fees to the State Treasurer as follows: 98% to the State Treasurer for deposit into the Neighborhood Stabilization Fund Program Fund; and 2% to the circuit clerk for administrative expenses related to this program. Provides that annually, the circuit clerk shall submit to the Authority a report of the funds collected and remitted. Amends the State Finance Act. Creates the Neighborhood Stabilization Fund. Effective immediately.

Actions 
DateChamber Action
  2/8/2011SenateFiled with Secretary by Sen. Martin A. Sandoval
  2/8/2011SenateFirst Reading
  2/8/2011SenateReferred to Assignments
  2/23/2011SenateAssigned to Financial Institutions
  3/4/2011SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  3/10/2011SenateHeld in Financial Institutions
  3/17/2011SenateHeld in Financial Institutions
  3/18/2011SenateRule 2-10 Committee Deadline Established As April 8, 2011
  3/21/2011SenateAdded as Co-Sponsor Sen. Annazette R. Collins
  4/4/2011SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Martin A. Sandoval
  4/4/2011SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/6/2011SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  4/8/2011SenateRule 3-9(a) / Re-referred to Assignments
  4/8/2011SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  1/8/2013SenateSession Sine Die