Full Text of HB4974 103rd General Assembly
HB4974 103RD GENERAL ASSEMBLY | | | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024 HB4974 Introduced 2/8/2024, by Rep. Steven Reick SYNOPSIS AS INTRODUCED: | | | Amends the Property Tax Code. Permits attorney's fees of up to $900 to be added to the cost to redeem. Effective immediately. |
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| | 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 | 23 | | tax 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 | 3 | | through 21-335, except for the nonrefundable $80 fee paid, | 4 | | pursuant to Section 21-295, for each item purchased at the | 5 | | tax sale; | 6 | | (b) the accrued penalty, computed through the date of | 7 | | redemption as a percentage of the certificate amount, as | 8 | | follows: | 9 | | (1) if the redemption occurs on or before the | 10 | | expiration of 6 months from the date of sale, the | 11 | | certificate amount times the penalty bid at sale; | 12 | | (2) if the redemption occurs after 6 months from | 13 | | the date of sale, and on or before the expiration of 12 | 14 | | months from the date of sale, the certificate amount | 15 | | times 2 times the penalty bid at sale; | 16 | | (3) if the redemption occurs after 12 months from | 17 | | the date of sale and on or before the expiration of 18 | 18 | | months from the date of sale, the certificate amount | 19 | | times 3 times the penalty bid at sale; | 20 | | (4) if the redemption occurs after 18 months from | 21 | | the date of sale and on or before the expiration of 24 | 22 | | months from the date of sale, the certificate amount | 23 | | times 4 times the penalty bid at sale; | 24 | | (5) if the redemption occurs after 24 months from | 25 | | the date of sale and on or before the expiration of 30 | 26 | | months from the date of sale, the certificate amount |
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| 1 | | times 5 times the penalty bid at sale; | 2 | | (6) if the redemption occurs after 30 months from | 3 | | the date of sale and on or before the expiration of 36 | 4 | | months from the date of sale, the certificate amount | 5 | | times 6 times the penalty bid at sale. | 6 | | In the event that the property to be redeemed has been | 7 | | purchased under Section 21-405 before January 1, 2024, the | 8 | | penalty bid shall be 12% per penalty period as set forth in | 9 | | subparagraphs (1) through (6) of this subsection (b). The | 10 | | changes to this subdivision (b)(6) made by this amendatory | 11 | | Act of the 91st General Assembly are not a new enactment, | 12 | | but declaratory of existing law. | 13 | | If the property to be redeemed is property with | 14 | | respect to which a tax lien or certificate is acquired on | 15 | | or after January 1, 2024 by the county as trustee pursuant | 16 | | to Section 21-90, the penalty bid is 0.75% and shall | 17 | | accrue monthly instead of according to the penalty periods | 18 | | established in subparagraphs (1) through (6) of this | 19 | | subsection (b). | 20 | | (c) The total of all taxes, special assessments, | 21 | | accrued interest on those taxes and special assessments | 22 | | and costs charged in connection with the payment of those | 23 | | taxes or special assessments, except for the nonrefundable | 24 | | $80 fee paid, pursuant to Section 21-295, for each item | 25 | | purchased at the tax sale, which have been paid by the tax | 26 | | certificate holder on or after the date those taxes or |
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| 1 | | special assessments became delinquent together with 12% | 2 | | penalty on each amount so paid for each year or portion | 3 | | thereof intervening between the date of that payment and | 4 | | the date of redemption. In counties with less than | 5 | | 3,000,000 inhabitants, however, a tax certificate holder | 6 | | may not pay all or part of an installment of a subsequent | 7 | | tax or special assessment for any year, nor shall any | 8 | | tender of such a payment be accepted, until after the | 9 | | second or final installment of the subsequent tax or | 10 | | special assessment has become delinquent or until after | 11 | | the holder of the certificate of purchase has filed a | 12 | | petition for a tax deed under Section 22.30. The person | 13 | | redeeming shall also pay the amount of interest charged on | 14 | | the subsequent tax or special assessment and paid as a | 15 | | penalty by the tax certificate holder. This amendatory Act | 16 | | of 1995 applies to tax years beginning with the 1995 | 17 | | taxes, payable in 1996, and thereafter. | 18 | | (d) Any amount paid to redeem a forfeiture occurring | 19 | | before January 1, 2024 but after the tax sale together | 20 | | with 12% penalty thereon for each year or portion thereof | 21 | | intervening between the date of the forfeiture redemption | 22 | | and the date of redemption from the sale. | 23 | | (e) Any amount paid by the certificate holder for | 24 | | redemption of a subsequently occurring tax sale, including | 25 | | tax liens or certificates held by the county as trustee, | 26 | | pursuant to Section 21-90. |
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| 1 | | (f) All fees paid to the county clerk under Section | 2 | | 22-5. | 3 | | (g) All fees paid to the registrar of titles incident | 4 | | to registering the tax certificate in compliance with the | 5 | | Registered Titles (Torrens) Act. | 6 | | (h) All fees paid to the circuit clerk and the | 7 | | sheriff, a licensed or registered private detective, or | 8 | | the coroner in connection with the filing of the petition | 9 | | for tax deed and service of notices under Sections 22-15 | 10 | | through 22-30 and 22-40 in addition to (1) a fee of $35 if | 11 | | a petition for tax deed has been filed, which fee shall be | 12 | | posted to the tax judgement, sale, redemption, and | 13 | | forfeiture record, to be paid to the purchaser or his or | 14 | | her assignee; (2) a fee of $4 if a notice under Section | 15 | | 22-5 has been filed, which fee shall be posted to the tax | 16 | | judgment, sale, redemption, and forfeiture record, to be | 17 | | paid to the purchaser or his or her assignee; (3) all costs | 18 | | paid to record a lis pendens notice in connection with | 19 | | filing a petition under this Code; and (4) if a petition | 20 | | for tax deed has been filed, all fees up to $150 per | 21 | | redemption paid to a registered or licensed title | 22 | | insurance company or title insurance agent for a title | 23 | | search to identify all owners, parties interested, and | 24 | | occupants of the property, to be paid to the purchaser or | 25 | | his or her assignee ; and (5) if a petition for tax deed has | 26 | | been filed, attorney's fees of up to $900 . The fees in (1) |
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| 1 | | and (2) of this paragraph (h) shall be exempt from the | 2 | | posting requirements of Section 21-360. The costs incurred | 3 | | in causing notices to be served by a licensed or | 4 | | registered private detective under Section 22-15, may not | 5 | | exceed the amount that the sheriff would be authorized by | 6 | | law to charge if those notices had been served by the | 7 | | sheriff. | 8 | | (i) All fees paid for publication of notice of the tax | 9 | | sale in accordance with Section 22-20. | 10 | | (j) All sums paid to any county, city, village or | 11 | | incorporated town for reimbursement under Section 22-35. | 12 | | (k) All costs and expenses of receivership under | 13 | | Section 21-410, to the extent that these costs and | 14 | | expenses exceed any income from the property in question, | 15 | | if the costs and expenditures have been approved by the | 16 | | court appointing the receiver and a certified copy of the | 17 | | order or approval is filed and posted by the certificate | 18 | | holder with the county clerk. Only actual costs expended | 19 | | may be posted on the tax judgment, sale, redemption and | 20 | | forfeiture record. | 21 | | (Source: P.A. 103-555, eff. 1-1-24 .) | 22 | | Section 99. Effective date. This Act takes effect upon | 23 | | becoming law. |
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