95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB1730

 

Introduced 2/9/2007, by Sen. Terry Link

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 200/21-385

    Amends the Property Tax Code. Makes a technical change in a Section concerning extensions of periods of redemption.


LRB095 09766 BDD 29975 b

 

 

A BILL FOR

 

SB1730 LRB095 09766 BDD 29975 b

1     AN ACT concerning revenue.
 
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 21-385 as follows:
 
6     (35 ILCS 200/21-385)
7     Sec. 21-385. Extension of period of redemption. The
8 purchaser or his or her assignee of property sold for
9 nonpayment of general taxes or special assessments may extend
10 the the period of redemption at any time before the expiration
11 of the original period of redemption, or thereafter prior to
12 the expiration of any extended period of redemption, for a
13 period which will expire not later than 3 years from the date
14 of sale, by filing with the county clerk of the county in which
15 the property is located a written notice to that effect
16 describing the property, stating the date of the sale and
17 specifying the extended period of redemption. If prior to the
18 expiration of the period of redemption or extended period of
19 redemption a petition for tax deed has been filed under Section
20 22-30, upon application of the petitioner, the court shall
21 allow the purchaser or his or her assignee to extend the period
22 of redemption after expiration of the original period or any
23 extended period of redemption, provided that any extension

 

 

SB1730 - 2 - LRB095 09766 BDD 29975 b

1 allowed will expire not later than 3 years from the date of
2 sale. If the period of redemption is extended, the purchaser or
3 his or her assignee must give the notices provided for in
4 Section 22-10 at the specified times prior to the expiration of
5 the extended period of redemption by causing a sheriff (or if
6 he or she is disqualified, a coroner) of the county in which
7 the property, or any part thereof, is located to serve the
8 notices as provided in Sections 22-15 and 22-20. The notices
9 may also be served as provided in Sections 22-15 and 22-20 by a
10 special process server appointed by the court under Section
11 22-15.
12 (Source: P.A. 91-209, eff. 1-1-00; 91-554, eff. 8-14-99.)