94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB0829

 

Introduced 2/2/2005, by Rep. Dan Reitz

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/21-330
35 ILCS 516/275

    Amends the Property Tax Code and the Mobile Home Local Services Tax Enforcement Act. Provides that any moneys accumulated in the special fund for the payment of interest by the county treasurer in excess of $100,000 (now, $500,000) must be paid each year prior to the commencement of the annual tax sale, first to satisfy any existing unpaid judgments, and any funds remaining thereafter must be paid to the general fund of the county. Effective immediately.


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FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1     AN ACT concerning taxes.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Property Tax Code is amended by changing
5 Section 21-330 as follows:
 
6     (35 ILCS 200/21-330)
7     Sec. 21-330. Fund for payment of interest. In counties of
8 under 3,000,000 inhabitants, the county board may impose a fee
9 of up to $60, which shall be paid to the county collector, upon
10 each person purchasing any property at a sale held under this
11 Code, prior to the issuance of any certificate of purchase.
12 Each person purchasing any property at a sale held under this
13 Code in a county with 3,000,000 or more inhabitants shall pay
14 to the county collector, prior to the issuance of any
15 certificate of purchase, a fee of $100 for each item purchased.
16 That amount shall be included in the price paid for the
17 certificate of purchase and the amount required to redeem under
18 Section 21-355.
19     All sums of money received under this Section shall be paid
20 by the collector to the county treasurer of the county in which
21 the property is situated for deposit into a special fund. It
22 shall be the duty of the county treasurer, as trustee of the
23 fund, to invest the principal and income of the fund from time
24 to time, if not immediately required for payments under this
25 Section, in investments as are authorized by Sections 3-10009
26 and 3-11002 of the Counties Code. The fund shall be held to pay
27 interest and costs by the county treasurer as trustee of the
28 fund. No payment shall be made from the fund except by order of
29 the court declaring a sale in error under Section 21-310,
30 22-35, or 22-50 or by declaration of the county collector under
31 subsection (c) of Section 21-310. Any moneys accumulated in the
32 fund by the county treasurer in excess of $100,000 $500,000

 

 

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1 shall be paid each year prior to the commencement of the annual
2 tax sale, first to satisfy any existing unpaid judgments
3 entered pursuant to Section 21-295, and any funds remaining
4 thereafter shall be paid to the general fund of the county.
5 (Source: P.A. 92-224, eff. 1-1-02; 92-729, eff. 7-25-02.)
 
6     Section 10. The Mobile Home Local Services Tax Enforcement
7 Act is amended by changing Section 275 as follows:
 
8     (35 ILCS 516/275)
9     Sec. 275. Fund for payment of interest. In counties of
10 under 3,000,000 inhabitants, the county board may impose a fee
11 of up to $10, which shall be paid to the county collector, upon
12 each person purchasing any mobile home at a sale held under
13 this Act, prior to the issuance of any certificate of purchase.
14 That amount shall be included in the price paid for the
15 certificate of purchase and the amount required to redeem under
16 Section 300.
17     All sums of money received under this Section shall be paid
18 by the collector to the county treasurer of the county in which
19 the mobile home is situated for deposit into a special fund. It
20 shall be the duty of the county treasurer, as trustee of the
21 fund, to invest the principal and income of the fund from time
22 to time, if not immediately required for payments under this
23 Section, in investments as are authorized by Sections 3-10009
24 and 3-11002 of the Counties Code. The fund shall be held to
25 satisfy orders for payment of interest and costs obtained
26 against the county treasurer as trustee of the fund. No payment
27 shall be made from the fund except by order of the court
28 declaring a sale in error under Section 255. Any moneys
29 accumulated in the fund by the county treasurer in excess of
30 $100,000 $500,000 shall be paid each year prior to the
31 commencement of the annual tax sale, first to satisfy any
32 existing unpaid judgments entered pursuant to Section 235, and
33 any funds remaining thereafter shall be paid to the general
34 fund of the county.

 

 

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1 (Source: P.A. 92-807, eff. 1-1-03.)
 
2     Section 99. Effective date. This Act takes effect upon
3 becoming law.