Full Text of HB4501 93rd General Assembly
HB4501 93RD GENERAL ASSEMBLY
|
|
|
93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004 HB4501
Introduced 02/03/04, by Robert S. Molaro, Frank J. Mautino SYNOPSIS AS INTRODUCED: |
|
35 ILCS 200/21-250 |
|
35 ILCS 200/21-253 new |
|
35 ILCS 200/21-385 |
|
|
Amends the Property Tax Code. Prohibits the transfer of a certificate of purchase obtained from a scavenger sale unless certain conditions are met. Provides that a purchaser of property at a scavenger sale may extend the period of redemption for a period of 2 years in the case of a purchase at a scavenger sale by a person other than a governmental unit (now, 3 years in the case of all purchasers). Effective immediately.
|
|
|
|
|
A BILL FOR
|
|
|
|
|
HB4501 |
|
LRB093 18538 SJM 44259 b |
|
| 1 |
| AN ACT concerning taxes.
| 2 |
| Be it enacted by the People of the State of Illinois,
| 3 |
| represented in the General Assembly:
| 4 |
| Section 5. The Property Tax Code is amended by changing | 5 |
| Sections 21-250 and 21-385 and by adding Section 21-253 as | 6 |
| follows:
| 7 |
| (35 ILCS 200/21-250)
| 8 |
| Sec. 21-250. Certificate of purchase. The county clerk | 9 |
| shall make out and
deliver to the purchaser of any property | 10 |
| sold under Section 21-205, a
certificate of purchase | 11 |
| countersigned by the collector, describing the property
sold, | 12 |
| the date of sale, the amount of taxes, special assessments, | 13 |
| interest and
cost for which they were sold and that payment of | 14 |
| the sale price has been made.
If any person becomes the | 15 |
| purchaser of more than one property owned by one
party or | 16 |
| person, the purchaser may have the whole or one or more of them
| 17 |
| included in one certificate, but separate certificates shall be | 18 |
| issued in all
other cases. A certificate of purchase shall be | 19 |
| assignable by endorsement unless the assignment is prohibited | 20 |
| under Section 21-253 . An
assignment shall vest in the assignee | 21 |
| or his or her legal representatives, all
the right and title of | 22 |
| the original purchaser.
| 23 |
| If the tax certificate is lost or destroyed, the county | 24 |
| clerk
shall issue a duplicate certificate upon written request | 25 |
| and a sworn affidavit
by the tax sale purchaser, or his or her | 26 |
| assignee, that the tax certificate is
lost or destroyed.
The | 27 |
| county clerk shall cause a notation to be made
in the tax sale | 28 |
| and judgment book that a duplicate certificate has been issued,
| 29 |
| and redemption payments shall be made only to the holder of the | 30 |
| duplicate
certificate.
| 31 |
| (Source: P.A. 88-455; 89-617, eff. 9-1-96.)
|
|
|
|
HB4501 |
- 2 - |
LRB093 18538 SJM 44259 b |
|
| 1 |
| (35 ILCS 200/21-253 new) | 2 |
| Sec. 21-253. Prohibited transfers of a certificate of | 3 |
| purchase. | 4 |
| (a) No purchaser of a certificate of purchase at a | 5 |
| scavenger sale may assign, convey, or otherwise transfer an | 6 |
| ownership or other interest in the certificate to any other | 7 |
| person except as provided in subsection (b). | 8 |
| (b) A certificate of purchase may be transferred: | 9 |
| (1) if the certificate was purchased before the | 10 |
| effective date of this amendatory Act of the 93rd General | 11 |
| Assembly; | 12 |
| (2) by or to a governmental unit; | 13 |
| (3) to secure a debt or other obligation or to release | 14 |
| the certificate from securing a debt or other obligation; | 15 |
| (4) pursuant to a merger, consolidation, or transfer or | 16 |
| sale of substantially all of the assets of a corporation | 17 |
| under plans of reorganization under the federal Internal | 18 |
| Revenue Code of 1986 or Title 11 of the federal Bankruptcy | 19 |
| Code; | 20 |
| (5) by a subsidiary corporation to its parent | 21 |
| corporation for no consideration other than the | 22 |
| cancellation or surrender of the subsidiary's stock; or | 23 |
| (6) in connection with procedures provided by law for | 24 |
| redemption or obtaining a tax deed.
| 25 |
| (35 ILCS 200/21-385)
| 26 |
| Sec. 21-385. Extension of period of redemption. The
| 27 |
| purchaser or his or her assignee of property
sold for | 28 |
| nonpayment of general taxes or special assessments may extend
| 29 |
| the period of redemption at any time before the expiration of | 30 |
| the
original period of redemption, or thereafter prior to the | 31 |
| expiration of any
extended period of redemption, for a period | 32 |
| which will expire not later than 3
years (or, in the case of a | 33 |
| purchase at a scavenger sale by any person other than a | 34 |
| governmental unit, 2 years) from the date of sale, by filing | 35 |
| with the county clerk of
the county in which the property is |
|
|
|
HB4501 |
- 3 - |
LRB093 18538 SJM 44259 b |
|
| 1 |
| located a written notice to that
effect describing the | 2 |
| property, stating the date of the sale and
specifying the | 3 |
| extended period of redemption. If prior to the
expiration of | 4 |
| the period of redemption or extended period of redemption
a | 5 |
| petition for tax deed has been filed under Section
22-30, upon | 6 |
| application of the petitioner, the court shall allow the
| 7 |
| purchaser or his or her assignee to extend the period of | 8 |
| redemption after
expiration of the original period or any | 9 |
| extended period of redemption,
provided that any extension | 10 |
| allowed will expire not later than 3 years from the
date of | 11 |
| sale. If the period of redemption is extended, the purchaser or | 12 |
| his or
her assignee must give the notices provided for in | 13 |
| Section 22-10 at the
specified times prior to the expiration of | 14 |
| the extended period of redemption by
causing a sheriff (or if | 15 |
| he or she is disqualified, a coroner) of the county in
which | 16 |
| the property, or any part thereof, is located to serve the | 17 |
| notices as
provided in Sections 22-15 and 22-20.
The notices | 18 |
| may also be served as provided in Sections 22-15 and 22-20 by a
| 19 |
| special process server appointed by the court under Section | 20 |
| 22-15. The changes made by this amendatory Act of the 93rd | 21 |
| General Assembly apply to purchases at scavenger sales | 22 |
| conducted on or after the effective date of this amendatory Act | 23 |
| of the 93rd General Assembly.
| 24 |
| (Source: P.A. 91-209, eff. 1-1-00; 91-554, eff. 8-14-99.)
| 25 |
| Section 99. Effective date. This Act takes effect upon | 26 |
| becoming law.
|
|