HB5644 95TH GENERAL ASSEMBLY

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95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB5644

Introduced , by Rep. Frank J. Mautino

SYNOPSIS AS INTRODUCED:

35 ILCS 200/21-247 new

Amends the Property Tax Code. Prohibits any person who has been contracted by a county to conduct the annual tax sale by automated means from acting as a trustee or other fiduciary for or on behalf of the county with respect to any forfeited property. Effective immediately.

FISCAL NOTE ACT MAY APPLY

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 Property Tax Code is amended by adding Section 21-247 as follows:

(35 ILCS 200/21-247 new)

Sec. 21-247. Conflict of interest by conductor of tax sale. Any person who has been contracted by a county to conduct the annual tax sale by automated means is prohibited from acting as a trustee or other fiduciary for or on behalf of the county with respect to any forfeited property.

Section 99. Effective date. This Act takes effect upon becoming law.