SB0060 96TH GENERAL ASSEMBLY

LRB096 03565 HLH 13590 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB0060

Introduced 1/30/2009, by Sen. Matt Murphy

SYNOPSIS AS INTRODUCED:

35 ILCS 200/21-215

Amends the Property Tax Code. In a Section concerning penalty bids, provides that no bid shall be accepted for a penalty exceeding 6% (instead of 18%) of the amount of the tax or special assessment on 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 changing Section 21-215 as follows:

(35 ILCS 200/21-215)

Sec. 21-215. Penalty bids. The person at the sale offering to pay the amount due on each property for the least penalty percentage shall be the purchaser of that property. No bid shall be accepted for a penalty exceeding 6% 18% of the amount of the tax or special assessment on property.

(Source: P.A. 86-1431; 86-1480; 88-455.)

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