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HB1504 Engrossed |
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LRB094 10248 BDD 40515 b |
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| AN ACT concerning revenue.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing |
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| Section 21-355 as follows:
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| (35 ILCS 200/21-355)
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| Sec. 21-355. Amount of redemption. Any person desiring to |
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| redeem shall
deposit an amount specified in this Section with |
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| the county clerk of the
county in which the property is |
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| situated,
in legal money of the United States, or by cashier's |
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| check, certified check,
post office money order or money order |
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| issued by a financial institution
insured by an agency or |
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| instrumentality of the United States, payable to the
county |
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| clerk of the proper county. The county clerk may also, at his |
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| or her sole discretion, accept a deposit by credit card, in |
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| accordance with the Local Governmental Acceptance of Credit |
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| Cards Act. The deposit shall be deemed timely only
if actually |
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| received in person at the county clerk's office prior to the |
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| close
of business as defined in Section 3-2007 of the Counties |
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| Code on or before the
expiration of the period of redemption or |
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| by United
States mail with a post office cancellation mark |
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| dated not less than one day
prior to the expiration of the |
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| period of redemption. The deposit shall
be
in an amount equal |
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| to the total of the
following:
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| (a) the certificate amount, which shall include all tax |
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| principal,
special assessments, interest and penalties |
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| paid by the tax purchaser together
with costs and fees of |
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| sale and fees paid under Sections 21-295 and 21-315
through |
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| 21-335;
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| (b) the accrued penalty, computed through the date of |
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| redemption as a
percentage of the certificate amount, as |
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| follows:
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HB1504 Engrossed |
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LRB094 10248 BDD 40515 b |
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| (1) if the redemption occurs on or before the |
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| expiration of 6 months
from the date of sale, the |
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| certificate amount times the penalty bid at sale;
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| (2) if the redemption occurs after 6 months from |
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| the date of sale,
and on or before the expiration of 12 |
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| months from the date of sale, the
certificate amount |
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| times 2 times the penalty bid at sale;
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| (3) if the redemption occurs after 12 months from |
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| the date of sale
and on or before the expiration of 18 |
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| months from the date of sale, the
certificate amount |
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| times 3 times the penalty bid at sale;
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| (4) if the redemption occurs after 18 months from |
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| the date
of sale and on or before the expiration of 24 |
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| months from the date of sale,
the certificate amount |
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| times 4 times the penalty bid at sale;
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| (5) if the redemption occurs after 24 months from |
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| the date of sale
and on or before the expiration of 30 |
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| months from the date of sale, the
certificate amount |
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| times 5 times the penalty bid at sale;
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| (6) if the redemption occurs after 30 months from |
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| the date of sale
and on or before the expiration of 36 |
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| months from the date of sale, the
certificate amount |
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| times 6 times the penalty bid at sale.
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| In the event that the property to be redeemed has |
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| been purchased
under Section 21-405, the penalty bid |
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| shall be 12% per penalty
period as set forth in |
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| subparagraphs (1) through (6) of this subsection (b).
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| The changes to this subdivision (b)(6) made by this |
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| amendatory Act of the
91st General Assembly are not a |
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| new enactment, but declaratory of existing
law.
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| (c) The total of all taxes, special assessments, |
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| accrued interest on those
taxes and special assessments and |
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| costs charged in connection with the payment
of those taxes |
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| or special assessments, which have been paid by the tax
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| certificate holder on or after the date those taxes or |
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| special assessments
became delinquent together with 12% |
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HB1504 Engrossed |
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LRB094 10248 BDD 40515 b |
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| penalty on each amount so paid for each
year or portion |
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| thereof intervening between the date of that payment and |
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| the
date of redemption.
In counties with less than |
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| 3,000,000 inhabitants, however, a tax certificate
holder |
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| may not pay
all or part of an installment of a subsequent |
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| tax or special assessment for any
year, nor shall any
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| tender of such a payment be accepted, until after the |
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| second or final
installment
of the subsequent tax or |
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| special assessment has become delinquent
or until after the
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| holder of the certificate of purchase has filed a petition |
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| for a tax deed under
Section 22.30.
The person
redeeming |
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| shall also pay the amount of interest charged on the |
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| subsequent tax
or special assessment and paid as a penalty |
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| by the tax certificate holder.
This amendatory Act of
1995 |
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| applies to tax years beginning with the 1995 taxes, payable |
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| in 1996, and
thereafter.
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| (d) Any amount paid to redeem a forfeiture occurring |
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| subsequent to the
tax sale together with 12% penalty |
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| thereon for each year or portion thereof
intervening |
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| between the date of the forfeiture redemption and the date |
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| of
redemption from the sale.
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| (e) Any amount paid by the certificate holder for |
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| redemption of a
subsequently occurring tax sale.
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| (f) All fees paid to the county clerk under Section |
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| 22-5.
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| (g) All fees paid to the registrar of titles incident |
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| to registering
the tax certificate in compliance with the |
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| Registered Titles (Torrens) Act.
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| (h) All fees paid to the circuit clerk and the sheriff |
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| or
coroner in connection with the filing of the petition |
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| for tax deed and
service of notices under Sections 22-15 |
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| through 22-30 and 22-40 in addition to
(1) a fee of $35 if |
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| a petition for tax deed has been filed, which fee shall
be |
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| posted to the tax judgement, sale, redemption, and |
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| forfeiture record, to be
paid to the purchaser or his or |
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| her assignee; (2) a fee of $4 if a notice under
Section |
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LRB094 10248 BDD 40515 b |
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| 22-5 has been filed, which fee shall be posted
to the tax |
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| judgment, sale, redemption, and forfeiture record, to be |
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| paid to
the purchaser or his or her assignee; and (3) all |
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| costs paid to record a
lis pendens notice in connection |
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| with filing a petition under this Code.
The fees in (1) and |
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| (2) of this paragraph (h) shall be exempt from the posting
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| requirements of Section 21-360.
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| (i) All fees paid for publication of notice of the tax |
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| sale in
accordance with Section 22-20.
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| (j) All sums paid to any city, village or incorporated |
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| town for
reimbursement under Section 22-35.
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| (k) All costs and expenses of receivership under |
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| Section 21-410, to the
extent that these costs and expenses |
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| exceed any income from the property in
question, if the |
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| costs and expenditures have been approved by the court
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| appointing the receiver and a certified copy of the order |
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| or approval is filed
and posted by the certificate holder |
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| with the county clerk. Only actual costs
expended may be |
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| posted on the tax judgment, sale, redemption and forfeiture
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| record.
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| (Source: P.A. 91-924, eff. 1-1-01.)
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| Section 99. Effective date. This Act takes effect upon |
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| becoming law.
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