92nd General Assembly
Summary of SB0508
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Senate Sponsors:
SILVERSTEIN.

House Sponsors:
BIGGINS-MOORE

Short description: 
PROP TAXES-SALES IN ERROR                                                  

Synopsis of Bill as introduced:
        Amends  the  Property  Tax  Code.   Provides  that  ownership  of      
   property by the State, a municipality, or a taxing district is grounds      
   for a declaration that a property foreclosure sale is a sale in error.      
   Provides that when a court refuses to issue the tax deed following the      
   sale of a property and the purchaser  made  a  bona  fide  attempt  to      
   comply with the statutory requirements for issuance of a tax deed, the      
   amount  refunded to the purchaser must include all costs posted to the      
   tax judgment, sale, redemption, and forfeiture record, as well as  all      
   other  taxes  paid  by  the purchaser after the tax sale.  Makes other      
   changes.                                                                    
        SENATE AMENDMENT NO. 1.                                                
          Adds reference to:                                                   
          35 ILCS 200/22-45                                                    
        Deletes everything.  Amends the Property Tax Code.  Provides that      
   the court shall declare a sale to be a sale in error if  the  lien  of      
   the  taxes  sold  becomes  null and void because a government unit has      
   acquired the property, if the  property  is  owned  by  the  State,  a      
   municipality,  or  a  taxing district, or if the purchaser made a bona      
   fide attempt to comply with statutory requirements but  failed  to  do      
   so.   In  certain  situations  when  the  court has declared a sale in      
   error, provides for the refund  of  costs  and  payment  of  interest.      
   Makes  changes  with respect to payments from the special fund for the      
   payment   of   interest.   Makes   changes   with   respect   to   the      
   incontestability of certain tax deeds. Provides that  certain  of  the      
   changes are declarative of existing law.                                    
 
Last action on Bill: PUBLIC ACT.............................. 92-0224

   Last action date: AUG-02-2001

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


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