HB2416 103RD GENERAL ASSEMBLY

LRB103 29546 HLH 55941 b

103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB2416

Introduced 2/15/2023, by Rep. Michael T. Marron

SYNOPSIS AS INTRODUCED:

20 ILCS 3805/7.33 new
35 ILCS 200/21-256 new
30 ILCS 105/5.990 new

Amends the Illinois Housing Development Act. Provides that the Illinois Housing Development Authority shall establish and administer a Land Bank Operations Program to make annual grants to intergovernmental or county land bank authorities. Requires the Illinois Housing Development Authority to maintain a Technical Assistance Network for the Land Bank Operations Program. Amends the Property Tax Code. Provides that tax purchasers shall pay to the county collector a land bank operations fee of $200 for each certificate purchased. Provides that the proceeds from the fee shall be disbursed as follows: (i) 95% of the proceeds shall be remitted to the State Treasurer for deposit into the Land Bank Operations Fund; and (ii) 5% may be retained by the county collector. Provides that moneys in the Land Bank Operations Fund shall be used for the Land Bank Operations Program. Amends the State Finance Act to create the Land Bank Operations Fund.

A BILL FOR

AN ACT concerning revenue.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Housing Development Act is amended by adding Section 7.33 as follows:

(20 ILCS 3805/7.33 new)

Sec. 7.33. Land Bank Operations Program.

(a) The Authority shall establish and administer a Land Bank Operations Program. The Authority shall use moneys in the Land Bank Operations Fund, and any other funds appropriated for this purpose, to make annual grants to intergovernmental or county land bank authorities. Intergovernmental or county land bank authorities are land bank authorities that are created through an intergovernmental agreement or ordinance and are comprised of units of local government for the purpose of assisting with the acquisition, management, disposition, and revitalization of vacant and abandoned properties.

(b) The Authority shall maintain a Technical Assistance Network for the Land Bank Operations Program. The Authority shall use moneys in the Land Bank Operations Fund, and any other funds appropriated for this purpose, to provide grant recipients with services from for-profit or not-for-profit organizations with demonstrated experience with land banking.

(c) The Authority shall retain an amount not greater than 5% of the annual appropriated funds for administrative costs associated with the administration of the Land Bank Operations Program.

Section 10. The Property Tax Code is amended by adding Section 21-256 as follows:

(35 ILCS 200/21-256 new)

Sec. 21-256. Land Bank Operations Fee.

(a) Except when the county bids as trustee for taxing districts pursuant to Section 21-90, all purchasers of tax certificates at a sale under this Code shall pay to the county collector, prior to the issuance of any tax certificate, a land bank operations fee of $200 for each certificate purchased. The land bank operations fee shall not be posted to the tax judgment, sale and redemption, and forfeiture record, and shall not be included in the amount of redemption or refund paid to the tax purchaser under any other Section of this Code.

(b) Fees collected under this Section shall be disbursed within 60 days after receipt by the county collector as follows: (i) 95% of the proceeds shall be remitted to the State Treasurer for deposit into the Land Bank Operations Fund, a special fund in the State treasury; and (ii) 5% may be retained by the county collector to defray administrative expenses related to implementation of this Section. Moneys in the Land Bank Operations Fund shall be expended for the purposes set forth in Section 7.32 of the Illinois Housing Development Act. Notwithstanding any other law to the contrary, the Land Bank Operations Fund is not subject to sweeps, administrative charge-backs, or any other fiscal maneuver that would in any way transfer any amounts from the Land Bank Operations Fund into any other fund of the State.

(c) This Section applies to tax sales occurring on or after the effective date of this amendatory Act of the 103rd General Assembly.

Section 15. The State Finance Act is amended by adding Section 5.990 as follows:

(30 ILCS 105/5.990 new)

Sec. 5.990. The Land Bank Operations Fund.