HB4577 95TH GENERAL ASSEMBLY

LRB095 16840 AJO 42878 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB4577

Introduced , by Rep. Richard T. Bradley

SYNOPSIS AS INTRODUCED:

735 ILCS 5/15-1406 new

Amends the Code of Civil Procedure. Provides that if there is a surplus after a judicial sale or mortgage foreclosure, the circuit clerk shall collect a $20 fee for each surplus proceeds deposit. Provides that of each $20 fee, $15 should be deposited into the county's general fund and $5 into the circuit court clerk operation fund.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning civil law.

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

Section 5. The Code of Civil Procedure is amended by adding Section 15-1406 as follows:

(735 ILCS 5/15-1406 new)

Sec. 15-1406. Sale surplus deposit fee. In addition to other fees authorized by law, if there is a surplus resulting from a sale related to the judicial sales procedure set forth in Part 15 of this Article or the methods of terminating mortgagor's interest in real estate set forth in Part 14 of this Article, the circuit court clerk shall charge and collect a $20 fee for each deposit of surplus proceeds, unless otherwise ordered by the court, which shall be paid to the clerk at the time the surplus money is deposited with the clerk. Of this $20 fee, $15 shall be deposited into the county's general fund and $5 shall be deposited into the Circuit Court Clerk Operation and Administrative Fund created by the clerk of the circuit court.