HB4629 98TH GENERAL ASSEMBLY

LRB098 16106 HLH 51162 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB4629

Introduced , by Rep. André M. Thapedi

SYNOPSIS AS INTRODUCED:

35 ILCS 200/22-35

Amends the Property Tax Code. Requires purchasers of tax delinquent property to reimburse holders of certain notes and receiver's certificates issued under the Illinois Municipal Code before a tax deed may be issued. Provides that, in lieu of reimbursement, the tax sale may be set aside as a sale in error. 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 22-35 as follows:

(35 ILCS 200/22-35)

Sec. 22-35. Reimbursement of municipality before issuance of tax deed. Except in any proceeding in which the tax purchaser is a county acting as a trustee for taxing districts as provided in Section 21-90, an order for the issuance of a tax deed under this Code shall not be entered affecting the title to or interest in any property in which a city, village or incorporated town has an interest under the police and welfare power by advancements made from public funds, until the purchaser or assignee makes reimbursement to the city, village or incorporated town of the money so advanced or the city, village, or town waives its lien on the property for the money so advanced. However, in lieu of reimbursement or waiver, the purchaser or his or her assignee may make application for and the court shall order that the tax purchase be set aside as a sale in error. A filing or appearance fee shall not be required of a city, village or incorporated town seeking to enforce its claim under this Section in a tax deed proceeding.

An order for the issuance of a tax deed under this Code shall not be entered affecting the title to or interest in any property in which a holder of a note or receiver's certificate issued against the property pursuant to Section 11-31-2 of the Illinois Municipal Code, and duly recorded and transferred by the receiver after its initial issuance as provided in that Section, has an interest under the note or receiver's certificate until the purchaser or assignee makes reimbursement to the holder of the note or receiver's certificate in the face amount of the note or certificate plus any accrued interest thereupon. However, in lieu of reimbursement, the purchaser or his or her assignee may make application for and the court shall order that the tax purchase be set aside as a sale in error.

(Source: P.A. 93-490, eff. 8-8-03.)

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