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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008 SB1730
Introduced 2/9/2007, by Sen. Terry Link SYNOPSIS AS INTRODUCED: |
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Amends the Property Tax Code. Makes a technical change in a Section concerning extensions of periods of redemption.
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A BILL FOR
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SB1730 |
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LRB095 09766 BDD 29975 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 21-385 as follows:
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| (35 ILCS 200/21-385)
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| Sec. 21-385. Extension of period of redemption. The
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| purchaser or his or her assignee of property
sold for |
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| nonpayment of general taxes or special assessments may extend |
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| the
the period of redemption at any time before the expiration |
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| of the
original period of redemption, or thereafter prior to |
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| the expiration of any
extended period of redemption, for a |
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| period which will expire not later than 3
years from the date |
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| of sale, by filing with the county clerk of
the county in which |
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| the property is located a written notice to that
effect |
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| describing the property, stating the date of the sale and
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| specifying the extended period of redemption. If prior to the
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| expiration of the period of redemption or extended period of |
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| redemption
a petition for tax deed has been filed under Section
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| 22-30, upon application of the petitioner, the court shall |
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| allow the
purchaser or his or her assignee to extend the period |
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| of redemption after
expiration of the original period or any |
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| extended period of redemption,
provided that any extension |