Illinois General Assembly - Full Text of HB4577
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Full Text of HB4577  95th General Assembly

HB4577 95TH GENERAL ASSEMBLY


 


 
95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4577

 

Introduced , by Rep. Richard T. Bradley

 

SYNOPSIS AS INTRODUCED:
 
735 ILCS 5/15-1406 new

    Amends the Code of Civil Procedure. Provides that if there is a surplus after a judicial sale or mortgage foreclosure, the circuit clerk shall collect a $20 fee for each surplus proceeds deposit. Provides that of each $20 fee, $15 should be deposited into the county's general fund and $5 into the circuit court clerk operation fund.


LRB095 16840 AJO 42878 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB4577 LRB095 16840 AJO 42878 b

1     AN ACT concerning civil law.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Code of Civil Procedure is amended by adding
5 Section 15-1406 as follows:
 
6     (735 ILCS 5/15-1406 new)
7     Sec. 15-1406. Sale surplus deposit fee. In addition to
8 other fees authorized by law, if there is a surplus resulting
9 from a sale related to the judicial sales procedure set forth
10 in Part 15 of this Article or the methods of terminating
11 mortgagor's interest in real estate set forth in Part 14 of
12 this Article, the circuit court clerk shall charge and collect
13 a $20 fee for each deposit of surplus proceeds, unless
14 otherwise ordered by the court, which shall be paid to the
15 clerk at the time the surplus money is deposited with the
16 clerk. Of this $20 fee, $15 shall be deposited into the
17 county's general fund and $5 shall be deposited into the
18 Circuit Court Clerk Operation and Administrative Fund created
19 by the clerk of the circuit court.