Illinois General Assembly - Full Text of Public Act 094-0362
Illinois General Assembly

Previous General Assemblies

Public Act 094-0362


 

Public Act 0362 94TH GENERAL ASSEMBLY


 


 
Public Act 094-0362
 
HB0829 Enrolled LRB094 07310 BDD 37468 b

    AN ACT concerning taxes.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Property Tax Code is amended by changing
Section 21-330 as follows:
 
    (35 ILCS 200/21-330)
    Sec. 21-330. Fund for payment of interest. In counties of
under 3,000,000 inhabitants, the county board may impose a fee
of up to $60, which shall be paid to the county collector, upon
each person purchasing any property at a sale held under this
Code, prior to the issuance of any certificate of purchase.
Each person purchasing any property at a sale held under this
Code in a county with 3,000,000 or more inhabitants shall pay
to the county collector, prior to the issuance of any
certificate of purchase, a fee of $100 for each item purchased.
That amount shall be included in the price paid for the
certificate of purchase and the amount required to redeem under
Section 21-355.
    All sums of money received under this Section shall be paid
by the collector to the county treasurer of the county in which
the property is situated for deposit into a special fund. It
shall be the duty of the county treasurer, as trustee of the
fund, to invest the principal and income of the fund from time
to time, if not immediately required for payments under this
Section, in investments as are authorized by Sections 3-10009
and 3-11002 of the Counties Code. The fund shall be held to pay
interest and costs by the county treasurer as trustee of the
fund. No payment shall be made from the fund except by order of
the court declaring a sale in error under Section 21-310,
22-35, or 22-50 or by declaration of the county collector under
subsection (c) of Section 21-310. Any moneys accumulated in the
fund by the county treasurer in excess of (i) $100,000 in
counties with 250,000 or less inhabitants or (ii) $500,000 in
counties with more than 250,000 inhabitants shall be paid each
year prior to the commencement of the annual tax sale, first to
satisfy any existing unpaid judgments entered pursuant to
Section 21-295, and any funds remaining thereafter shall be
paid to the general fund of the county.
(Source: P.A. 92-224, eff. 1-1-02; 92-729, eff. 7-25-02.)
 
    Section 10. The Mobile Home Local Services Tax Enforcement
Act is amended by changing Section 275 as follows:
 
    (35 ILCS 516/275)
    Sec. 275. Fund for payment of interest. In counties of
under 3,000,000 inhabitants, the county board may impose a fee
of up to $10, which shall be paid to the county collector, upon
each person purchasing any mobile home at a sale held under
this Act, prior to the issuance of any certificate of purchase.
That amount shall be included in the price paid for the
certificate of purchase and the amount required to redeem under
Section 300.
    All sums of money received under this Section shall be paid
by the collector to the county treasurer of the county in which
the mobile home is situated for deposit into a special fund. It
shall be the duty of the county treasurer, as trustee of the
fund, to invest the principal and income of the fund from time
to time, if not immediately required for payments under this
Section, in investments as are authorized by Sections 3-10009
and 3-11002 of the Counties Code. The fund shall be held to
satisfy orders for payment of interest and costs obtained
against the county treasurer as trustee of the fund. No payment
shall be made from the fund except by order of the court
declaring a sale in error under Section 255. Any moneys
accumulated in the fund by the county treasurer in excess of
(i) $100,000 in counties with 250,000 or less inhabitants or
(ii) $500,000 in counties with more than 250,000 inhabitants
shall be paid each year prior to the commencement of the annual
tax sale, first to satisfy any existing unpaid judgments
entered pursuant to Section 235, and any funds remaining
thereafter shall be paid to the general fund of the county.
(Source: P.A. 92-807, eff. 1-1-03.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 7/29/2005