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91_HB1888
LRB9103555PTmb
1 AN ACT to amend the Property Tax Code by changing Section
2 21-355.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 21-355 as follows:
7 (35 ILCS 200/21-355)
8 Sec. 21-355. Amount of redemption. Any person desiring
9 to redeem shall deposit an amount specified in this Section
10 with the county clerk of the county in which the property is
11 situated, in legal money of the United States, or by
12 cashier's check, certified check, post office money order or
13 money order issued by a financial institution insured by an
14 agency or instrumentality of the United States, payable to
15 the county clerk of the proper county. The deposit shall be
16 deemed timely only if actually received in person at the
17 county clerk's office prior to the close of business as
18 defined in Section 3-2007 of the Counties Code on or before
19 the expiration of the period of redemption or by United
20 States mail with a post office cancellation mark dated not
21 less than one day prior to the expiration of the period of
22 redemption. The deposit shall be in an amount equal to the
23 total of the following:
24 (a) the certificate amount, which shall include all
25 tax principal, special assessments, interest and
26 penalties paid by the tax purchaser together with costs
27 and fees of sale and fees paid under Sections 21-295 and
28 21-315 through 21-335;
29 (b) the accrued penalty, computed through the date
30 of redemption as a percentage of the certificate amount,
31 as follows:
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1 (1) if the redemption occurs on or before the
2 expiration of 6 months from the date of sale, the
3 certificate amount times the penalty bid at sale;
4 (2) if the redemption occurs after 6 months
5 from the date of sale, and on or before the
6 expiration of 12 months from the date of sale, the
7 certificate amount times 2 times the penalty bid at
8 sale;
9 (3) if the redemption occurs after 12 months
10 from the date of sale and on or before the
11 expiration of 18 months from the date of sale, the
12 certificate amount times 3 times the penalty bid at
13 sale;
14 (4) if the redemption occurs after 18 months
15 from the date of sale and on or before the
16 expiration of 24 months from the date of sale, the
17 certificate amount times 4 times the penalty bid at
18 sale;
19 (5) if the redemption occurs after 24 months
20 from the date of sale and on or before the
21 expiration of 30 months from the date of sale, the
22 certificate amount times 5 times the penalty bid at
23 sale;
24 (6) if the redemption occurs after 30 months
25 from the date of sale and on or before the
26 expiration of 36 months from the date of sale, the
27 certificate amount times 6 times the penalty bid at
28 sale.
29 In the event that the property to be redeemed
30 has been purchased under Section 21-370, the penalty
31 bid shall be 12% per penalty period as set forth in
32 subparagraphs (1) through (6) of this subsection
33 (b).
34 (c) The total of all taxes, special assessments,
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1 accrued interest on those taxes and special assessments
2 and costs charged in connection with the payment of those
3 taxes or special assessments, which have been paid by the
4 tax certificate holder on or after the date those taxes
5 or special assessments became delinquent together with
6 12% penalty on each amount so paid for each year or
7 portion thereof intervening between the date of that
8 payment and the date of redemption. In counties with less
9 than 3,000,000 inhabitants, however, a tax certificate
10 holder may not pay all or part of an installment of a
11 subsequent tax or special assessment for any year, nor
12 shall any tender of such a payment be accepted, until
13 after the second or final installment of the subsequent
14 tax or special assessment has become delinquent or until
15 after the holder of the certificate of purchase has filed
16 a petition for a tax deed under Section 22.30. The
17 person redeeming shall also pay the amount of interest
18 charged on the subsequent tax or special assessment and
19 paid as a penalty by the tax certificate holder. This
20 amendatory Act of 1995 applies to tax years beginning
21 with the 1995 taxes, payable in 1996, and thereafter.
22 (d) Any amount paid to redeem a forfeiture
23 occurring subsequent to the tax sale together with 12%
24 penalty thereon for each year or portion thereof
25 intervening between the date of the forfeiture redemption
26 and the date of redemption from the sale.
27 (e) Any amount paid by the certificate holder for
28 redemption of a subsequently occurring tax sale.
29 (f) All fees paid to the county clerk under Section
30 22-5.
31 (g) All fees paid to the registrar of titles
32 incident to registering the tax certificate in compliance
33 with the Registered Titles (Torrens) Act.
34 (h) All fees paid to the circuit clerk and the
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1 sheriff or coroner in connection with the filing of the
2 petition for tax deed and service of notices under
3 Sections 22-15 through 22-30 and 22-40 in addition to (1)
4 a fee of $100 $35 if a petition for tax deed has been
5 filed, which fee shall be posted to the tax judgement,
6 sale, redemption, and forfeiture record, to be paid to
7 the purchaser or his or her assignee; (2) a fee of $10 $4
8