Illinois 2023-2024 Regular Session

Illinois House Bill HB2165 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2165 Introduced , by Rep. Margaret Croke SYNOPSIS AS INTRODUCED: 35 ILCS 200/21-295 Amends the Property Tax Code. Provides that in counties of 3,000,000 or more inhabitants, the holder of a tax lien certificate on property sold under the Code shall pay to the County Collector an additional 2.5% of the subsequent taxes, interest, and penalties paid by the tax purchaser and posted to the tax judgment, sale, redemption, and forfeiture record. Effective immediately. LRB103 06056 HLH 51086 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2165 Introduced , by Rep. Margaret Croke SYNOPSIS AS INTRODUCED: 35 ILCS 200/21-295 35 ILCS 200/21-295 Amends the Property Tax Code. Provides that in counties of 3,000,000 or more inhabitants, the holder of a tax lien certificate on property sold under the Code shall pay to the County Collector an additional 2.5% of the subsequent taxes, interest, and penalties paid by the tax purchaser and posted to the tax judgment, sale, redemption, and forfeiture record. Effective immediately. LRB103 06056 HLH 51086 b LRB103 06056 HLH 51086 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2165 Introduced , by Rep. Margaret Croke SYNOPSIS AS INTRODUCED:
3	3	35 ILCS 200/21-295 35 ILCS 200/21-295
4	4	35 ILCS 200/21-295
5	5	Amends the Property Tax Code. Provides that in counties of 3,000,000 or more inhabitants, the holder of a tax lien certificate on property sold under the Code shall pay to the County Collector an additional 2.5% of the subsequent taxes, interest, and penalties paid by the tax purchaser and posted to the tax judgment, sale, redemption, and forfeiture record. Effective immediately.
6	6	LRB103 06056 HLH 51086 b LRB103 06056 HLH 51086 b
7	7	LRB103 06056 HLH 51086 b
8	8	A BILL FOR
9	9	HB2165LRB103 06056 HLH 51086 b HB2165 LRB103 06056 HLH 51086 b
10	10	HB2165 LRB103 06056 HLH 51086 b
11	11	1 AN ACT concerning revenue.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Property Tax Code is amended by changing
15	15	5 Section 21-295 as follows:
16	16	6 (35 ILCS 200/21-295)
17	17	7 Sec. 21-295. Creation of indemnity fund.
18	18	8 (a) In counties of less than 3,000,000 inhabitants, each
19	19	9 person purchasing any property at a sale under this Code shall
20	20	10 pay to the County Collector, prior to the issuance of any
21	21	11 certificate of purchase, an indemnity fee set by the county
22	22	12 collector of not more than $20 for each item purchased. A like
23	23	13 sum shall be paid for each year that all or a portion of
24	24	14 subsequent taxes are paid by the tax purchaser and posted to
25	25	15 the tax judgment, sale, redemption and forfeiture record where
26	26	16 the underlying certificate of purchase is recorded.
27	27	17 (a-5) In counties of 3,000,000 or more inhabitants, each
28	28	18 person purchasing property at a sale under this Code shall pay
29	29	19 to the County Collector a nonrefundable fee of $80 for each
30	30	20 item purchased plus an additional sum equal to 5% of the taxes,
31	31	21 interest, and penalties paid under Section 21-240. In these
32	32	22 counties, the certificate holder shall also pay to the County
33	33	23 Collector a fee of $80 for each year that all or a portion of
34	34
35	35
36	36
37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB2165 Introduced , by Rep. Margaret Croke SYNOPSIS AS INTRODUCED:
38	38	35 ILCS 200/21-295 35 ILCS 200/21-295
39	39	35 ILCS 200/21-295
40	40	Amends the Property Tax Code. Provides that in counties of 3,000,000 or more inhabitants, the holder of a tax lien certificate on property sold under the Code shall pay to the County Collector an additional 2.5% of the subsequent taxes, interest, and penalties paid by the tax purchaser and posted to the tax judgment, sale, redemption, and forfeiture record. Effective immediately.
41	41	LRB103 06056 HLH 51086 b LRB103 06056 HLH 51086 b
42	42	LRB103 06056 HLH 51086 b
43	43	A BILL FOR
44	44
45	45
46	46
47	47
48	48
49	49	35 ILCS 200/21-295
50	50
51	51
52	52
53	53	LRB103 06056 HLH 51086 b
54	54
55	55
56	56
57	57
58	58
59	59
60	60
61	61
62	62
63	63	HB2165 LRB103 06056 HLH 51086 b
64	64
65	65
66	66	HB2165- 2 -LRB103 06056 HLH 51086 b HB2165 - 2 - LRB103 06056 HLH 51086 b
67	67	HB2165 - 2 - LRB103 06056 HLH 51086 b
68	68	1 subsequent taxes are paid by the tax purchaser and posted to
69	69	2 the tax judgment, sale, redemption, and forfeiture record
70	70	3 together with an additional 2.5% of the subsequent taxes,
71	71	4 interest, and penalties paid by the tax purchaser and posted
72	72	5 to the tax judgment, sale, redemption, and forfeiture record.
73	73	6 The changes to this subsection made by this amendatory Act of
74	74	7 the 91st General Assembly are not a new enactment, but
75	75	8 declaratory of existing law.
76	76	9 (b) The amount paid prior to issuance of the certificate
77	77	10 of purchase pursuant to subsection (a) or (a-5) shall be
78	78	11 included in the purchase price of the property in the
79	79	12 certificate of purchase and all amounts paid under this
80	80	13 Section shall be included in the amount required to redeem
81	81	14 under Section 21-355, except for the nonrefundable $80 fee for
82	82	15 each item purchased at the tax sale as provided in this
83	83	16 Section. Except as otherwise provided in subsection (b) of
84	84	17 Section 21-300, all money received under subsection (a) or
85	85	18 (a-5) shall be paid by the Collector to the County Treasurer of
86	86	19 the County in which the land is situated, for the purpose of an
87	87	20 indemnity fund. The County Treasurer, as trustee of that fund,
88	88	21 shall invest all of that fund, principal and income, in his or
89	89	22 her hands from time to time, if not immediately required for
90	90	23 payments of indemnities under subsection (a) of Section
91	91	24 21-305, in investments permitted by the Illinois State Board
92	92	25 of Investment under Article 22A of the Illinois Pension Code.
93	93	26 The county collector shall report annually to the county clerk
94	94
95	95
96	96
97	97
98	98
99	99	HB2165 - 2 - LRB103 06056 HLH 51086 b
100	100
101	101
102	102	HB2165- 3 -LRB103 06056 HLH 51086 b HB2165 - 3 - LRB103 06056 HLH 51086 b
103	103	HB2165 - 3 - LRB103 06056 HLH 51086 b
104	104	1 on the condition and income of the fund. The indemnity fund
105	105	2 shall be held to satisfy judgments obtained against the County
106	106	3 Treasurer, as trustee of the fund. No payment shall be made
107	107	4 from the fund, except upon a judgment of the court which
108	108	5 ordered the issuance of a tax deed.
109	109	6 (Source: P.A. 100-1070, eff. 1-1-19; 101-659, eff. 3-23-21.)
110	110	7 Section 99. Effective date. This Act takes effect upon
111	111	8 becoming law.
112	112
113	113
114	114
115	115
116	116
117	117	HB2165 - 3 - LRB103 06056 HLH 51086 b