House Sponsors: BIGGINS-OSTERMAN-MAUTINO. Senate Sponsors: MYERS Short description: PROP TAX-TAX SALE-BOND MINIMUM Synopsis of Bill as introduced: Amends the Property Tax Code. In provisions requiring a person to deposit with the county collector a letter of credit or other unconditional bond in an amount not less than 1.5 times the amount of any tax or special assessment due upon property the person intends to purchases at a tax sale, provides that in no event shall the letter of credit or other unconditional bond be in an amount less than $1,000. Effective immediately. FISCAL NOTE (Illinois Department of Revenue) House Bill 4082 does not have fiscal implications for the Department of Revenue or the State of Illinois. SENATE AMENDMENT NO. 1. Adds reference to: 35 ILCS 200/21-355 Amends the Property Tax Code. Provides that the penalty that must be paid to redeem property sold at a tax sale includes up to $125 paid for costs of title insurance and to identify and locate owners and interested parties to the subject real estate. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 1 END OF INQUIRY Full Text Bill Status