HB4196sam002 95TH GENERAL ASSEMBLY

Sen. John J. Cullerton

Filed: 5/7/2008

09500HB4196sam002 LRB095 14969 HLH 49754 a

AMENDMENT TO HOUSE BILL 4196

AMENDMENT NO. ______. Amend House Bill 4196 immediately below the enacting clause by inserting the following:

"Section 3. The Property Tax Code is amended by adding Section 21-253 as follows:

(35 ILCS 200/21-253 new)

Sec. 21-253. Condominium tax sale procedures. For a condominium or townhome sold pursuant to this Division, the collector must provide notice, sent by certified mail with return receipt requested, to the condominium or townhome association that is associated with the property. The notice must state that the condominium or townhome association may exercise the right of first refusal, if any, that the association may have to purchase the property based upon the association's declaration, bylaws, or other binding documents. Within 30 days after receiving notice under this Section, the association shall notify the collector if any such right of first refusal exists as well as the terms of that right of first refusal. The condominium or townhome may not be publicly sold under this Division until the time has passed for the association to exercise its right of first refusal.".