Full Text of SB2750 101st General Assembly
SB2750 101ST GENERAL ASSEMBLY |
| | 101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020 SB2750 Introduced 2/4/2020, by Sen. Iris Y. Martinez SYNOPSIS AS INTRODUCED: |
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Amends the Property Tax Code. In provisions concerning redemption, provides that the amount of the penalty applied to taxes, special assessments, interest, and costs that have been paid by the tax
certificate holder after the date those taxes or special assessments
became delinquent shall be 3% (currently, 12%). Effective immediately.
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| | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| 1 | | AN ACT concerning revenue.
| 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 | | Section 21-355 as follows:
| 6 | | (35 ILCS 200/21-355)
| 7 | | Sec. 21-355. Amount of redemption. Any person desiring to | 8 | | redeem shall
deposit an amount specified in this Section with | 9 | | the county clerk of the
county in which the property is | 10 | | situated,
in legal money of the United States, or by cashier's | 11 | | check, certified check,
post office money order or money order | 12 | | issued by a financial institution
insured by an agency or | 13 | | instrumentality of the United States, payable to the
county | 14 | | clerk of the proper county. The deposit shall be deemed timely | 15 | | only
if actually received in person at the county clerk's | 16 | | office prior to the close
of business as defined in Section | 17 | | 3-2007 of the Counties Code on or before the
expiration of the | 18 | | period of redemption or by United
States mail with a post | 19 | | office cancellation mark dated not less than one day
prior to | 20 | | the expiration of the period of redemption. The deposit shall
| 21 | | be
in an amount equal to the total of the
following:
| 22 | | (a) the certificate amount, which shall include all tax | 23 | | principal,
special assessments, interest and penalties |
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| 1 | | paid by the tax purchaser together
with costs and fees of | 2 | | sale and fees paid under Sections 21-295 and 21-315
through | 3 | | 21-335;
| 4 | | (b) the accrued penalty, computed through the date of | 5 | | redemption as a
percentage of the certificate amount, as | 6 | | follows:
| 7 | | (1) if the redemption occurs on or before the | 8 | | expiration of 6 months
from the date of sale, the | 9 | | certificate amount times the penalty bid at sale;
| 10 | | (2) if the redemption occurs after 6 months from | 11 | | the date of sale,
and on or before the expiration of 12 | 12 | | months from the date of sale, the
certificate amount | 13 | | times 2 times the penalty bid at sale;
| 14 | | (3) if the redemption occurs after 12 months from | 15 | | the date of sale
and on or before the expiration of 18 | 16 | | months from the date of sale, the
certificate amount | 17 | | times 3 times the penalty bid at sale;
| 18 | | (4) if the redemption occurs after 18 months from | 19 | | the date
of sale and on or before the expiration of 24 | 20 | | months from the date of sale,
the certificate amount | 21 | | times 4 times the penalty bid at sale;
| 22 | | (5) if the redemption occurs after 24 months from | 23 | | the date of sale
and on or before the expiration of 30 | 24 | | months from the date of sale, the
certificate amount | 25 | | times 5 times the penalty bid at sale;
| 26 | | (6) if the redemption occurs after 30 months from |
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| 1 | | the date of sale
and on or before the expiration of 36 | 2 | | months from the date of sale, the
certificate amount | 3 | | times 6 times the penalty bid at sale.
| 4 | | In the event that the property to be redeemed has | 5 | | been purchased
under Section 21-405, the penalty bid | 6 | | shall be 12% per penalty
period as set forth in | 7 | | subparagraphs (1) through (6) of this subsection (b).
| 8 | | The changes to this subdivision (b)(6) made by this | 9 | | amendatory Act of the
91st General Assembly are not a | 10 | | new enactment, but declaratory of existing
law.
| 11 | | (c) The total of all taxes, special assessments, | 12 | | accrued interest on those
taxes and special assessments and | 13 | | costs charged in connection with the payment
of those taxes | 14 | | or special assessments, which have been paid by the tax
| 15 | | certificate holder on or after the date those taxes or | 16 | | special assessments
became delinquent together with 3% 12% | 17 | | penalty on each amount so paid for each
year or portion | 18 | | thereof intervening between the date of that payment and | 19 | | the
date of redemption.
In counties with less than | 20 | | 3,000,000 inhabitants, however, a tax certificate
holder | 21 | | may not pay
all or part of an installment of a subsequent | 22 | | tax or special assessment for any
year, nor shall any
| 23 | | tender of such a payment be accepted, until after the | 24 | | second or final
installment
of the subsequent tax or | 25 | | special assessment has become delinquent
or until after the
| 26 | | holder of the certificate of purchase has filed a petition |
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| 1 | | for a tax deed under
Section 22.30.
The person
redeeming | 2 | | shall also pay the amount of interest charged on the | 3 | | subsequent tax
or special assessment and paid as a penalty | 4 | | by the tax certificate holder.
This amendatory Act of
1995 | 5 | | applies to tax years beginning with the 1995 taxes, payable | 6 | | in 1996, and
thereafter.
| 7 | | (d) Any amount paid to redeem a forfeiture occurring | 8 | | subsequent to the
tax sale together with 12% penalty | 9 | | thereon for each year or portion thereof
intervening | 10 | | between the date of the forfeiture redemption and the date | 11 | | of
redemption from the sale.
| 12 | | (e) Any amount paid by the certificate holder for | 13 | | redemption of a
subsequently occurring tax sale.
| 14 | | (f) All fees paid to the county clerk under Section | 15 | | 22-5.
| 16 | | (g) All fees paid to the registrar of titles incident | 17 | | to registering
the tax certificate in compliance with the | 18 | | Registered Titles (Torrens) Act.
| 19 | | (h) All fees paid to the circuit clerk and the sheriff, | 20 | | a licensed or registered private detective, or the
coroner | 21 | | in connection with the filing of the petition for tax deed | 22 | | and
service of notices under Sections 22-15 through 22-30 | 23 | | and 22-40 in addition to
(1) a fee of $35 if a petition for | 24 | | tax deed has been filed, which fee shall
be posted to the | 25 | | tax judgement, sale, redemption, and forfeiture record, to | 26 | | be
paid to the purchaser or his or her assignee; (2) a fee |
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| 1 | | of $4 if a notice under
Section 22-5 has been filed, which | 2 | | fee shall be posted
to the tax judgment, sale, redemption, | 3 | | and forfeiture record, to be paid to
the purchaser or his | 4 | | or her assignee; (3) all costs paid to record a
lis pendens | 5 | | notice in connection with filing a petition under this | 6 | | Code; and (4) if a petition for tax deed has been filed, | 7 | | all fees up to $150 per redemption paid to a registered or | 8 | | licensed title insurance company or title insurance agent | 9 | | for a title search to identify all owners, parties | 10 | | interested, and occupants of the property, to be paid to | 11 | | the purchaser or his or her assignee.
The fees in (1) and | 12 | | (2) of this paragraph (h) shall be exempt from the posting
| 13 | | requirements of Section 21-360. The costs incurred in | 14 | | causing notices to be served by a licensed or registered | 15 | | private detective under Section 22-15, may not exceed the | 16 | | amount that the sheriff would be authorized by law to | 17 | | charge if those notices had been served by the sheriff.
| 18 | | (i) All fees paid for publication of notice of the tax | 19 | | sale in
accordance with Section 22-20.
| 20 | | (j) All sums paid to any county, city, village or | 21 | | incorporated town for
reimbursement under Section 22-35.
| 22 | | (k) All costs and expenses of receivership under | 23 | | Section 21-410, to the
extent that these costs and expenses | 24 | | exceed any income from the property in
question, if the | 25 | | costs and expenditures have been approved by the court
| 26 | | appointing the receiver and a certified copy of the order |
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| 1 | | or approval is filed
and posted by the certificate holder | 2 | | with the county clerk. Only actual costs
expended may be | 3 | | posted on the tax judgment, sale, redemption and forfeiture
| 4 | | record.
| 5 | | (l) The changes made to this Section by this amendatory | 6 | | Act of the 101st General Assembly apply only to tax sales | 7 | | commenced on or after January 1, 2021. | 8 | | (Source: P.A. 98-1162, eff. 6-1-15 .)
| 9 | | Section 99. Effective date. This Act takes effect upon | 10 | | becoming law.
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