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90_SB1286ham002
LRB9008849SMdvam07
1 AMENDMENT TO SENATE BILL 1286
2 AMENDMENT NO. . Amend Senate Bill 1286 by replacing
3 the title with the following:
4 "AN ACT to amend the Registered Titles (Torrens) Act by
5 changing Sections 100 and 102 and by adding Sections 102.1
6 and 102.2."; and
7 by replacing everything after the enacting clause with the
8 following:
9 "Section 5. The Registered Titles (Torrens) Act is
10 amended by changing Sections 100 and 102 and adding Sections
11 102.1 and 102.2 as follows:
12 (765 ILCS 35/100) (from Ch. 30, par. 137)
13 Sec. 100. All sums of money received pursuant to Sections
14 40, 99, and 108 of this Act shall be paid by the registrar to
15 the county treasurer of the county in which the land is
16 situated, for the purpose of maintaining an indemnity fund
17 under the terms of this Act, and for the purposes provided
18 for in Sections 102.1 and 102.2. It shall be the duty of the
19 treasurer to invest all of the fund, including both principal
20 and income, from time to time if not immediately required for
21 payments of indemnities in accordance with Division 3-11 and
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1 other applicable provisions of the Counties Code. The county
2 treasurer shall report annually to the county board the
3 condition and income of the fund and forward a copy of the
4 report to the registrar.
5 (Source: P.A. 86-1475.)
6 (765 ILCS 35/102) (from Ch. 30, par. 139)
7 Sec. 102. Except as otherwise provided in Sections 102.1
8 and 102.2 of this Act, the indemnity fund shall be held to
9 satisfy judgments obtained or claims allowed against the
10 county for losses or damages as aforesaid. Such claims for
11 damages shall be presented to the registrar and county board,
12 and such county board is hereby authorized and empowered to
13 allow or reject the same and to provide for the payment of
14 such claims as may be allowed. No claims for such losses or
15 damages shall be allowed and paid by any such county board
16 unless upon the recommendation of the registrar who shall be
17 in office at the time the claim shall be allowed. The county
18 board shall grant or deny such claims in whole or in part
19 within 60 days from the date of the receipt thereof by the
20 county board. In the event the county board shall fail to
21 grant or deny such claims in whole or in part within 60 days
22 from the date of the receipt thereof, the claims are deemed
23 to be denied. Judicial review may be had in accordance with
24 Administrative Review Law as heretofore or hereafter amended.
25 (Source: P.A. 82-783.)
26 (765 ILCS 35/102.1 new)
27 Sec. 102.1. Excess funds.
28 (a) The county board may determine that monies in excess
29 of the funds necessary to satisfy judgments obtained or
30 claims allowed against the indemnity fund exist in the
31 indemnity fund. In determining whether an excess of monies
32 exists, the county shall seek such input and gather such
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1 information as is necessary to assist the county in making
2 the determination. The input and information shall include
3 an actuarial study, or such other studies, input, or data the
4 county deems appropriate, whether undertaken at the direction
5 of the county or by third parties in connection with the
6 bidding for or offering of insurance to cover the county's
7 obligations under this Act. If the county incurs any expense
8 in gathering the information, including the actuarial study,
9 the costs shall be paid from the indemnity fund.
10 (b) The county may purchase private insurance to meet
11 the county's obligations under this Act. If the county does
12 purchase such insurance, the cost of the insurance shall be
13 paid out of the indemnity fund.
14 (c) If the county determines that an excess of monies
15 exists in the indemnity fund, the county may transfer the
16 excess monies to a lead poisoning prevention fund, and may
17 expend the monies in accordance with the provisions of
18 Section 102.2 of this Act. The county may also transfer and
19 expend excess indemnity fund monies for the benefit of owners
20 of real property in the county as the county deems
21 appropriate, provided that (i) at least 50% of the aggregate
22 of any monies that the county has deemed to be excess monies
23 have been transferred to the lead poisoning prevention fund,
24 and (ii) the county has made substantial progress in
25 designing and implementing the lead poisoning prevention
26 program outlined in Section 102.2.
27 (d) Upon the statutory expiration of all potential
28 indemnity fund claims, any monies remaining in the indemnity
29 fund shall be deemed to be excess monies and shall be
30 expended in accordance with the provisions of this Section.
31 (765 ILCS 35/102.2 new)
32 Sec. 102.2. Lead poisoning prevention fund. The lead
33 poisoning prevention fund established with excess indemnity
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1 fund monies as provided in Section 102.1 of this Act shall be
2 used to establish a program to provide financial assistance
3 to owners of residential property located within the county
4 to pay for the cost associated with lead mitigation and
5 abatement, as defined in the Lead Poisoning Prevention Act,
6 and to fund such other related activities as provided in this
7 Section. Reasonable expenses for the administration of the
8 program established pursuant to this Section shall be paid
9 from the lead poisoning prevention fund. State, federal, or
10 private grants may be sought to supplement the lead poisoning
11 prevention fund.
12 (a) Use of principal. The principal of the fund shall
13 be used to provide financial assistance to owners of
14 residential property within the county to pay for the costs
15 associated with lead mitigation and abatement through loans,
16 grants, and other assistance the county deems appropriate.
17 In order to assure the continued availability of funds for
18 lead poisoning prevention, the county shall give due
19 consideration to providing the financial assistance in the
20 form of loans to property owners to finance lead mitigation
21 and abatement in their properties.
22 (1) The county shall establish reasonable criteria
23 for eligibility for the loans, grants, and other
24 assistance.
25 (2) In determining the eligibility for assistance,
26 priority shall be given to property owners who have
27 received a mitigation notice, a mitigation order, or an
28 abatement order under the Lead Poisoning Prevention Act,
29 and to other factors, including the immediacy of risk
30 that the lead in the structure poses to children.
31 (b) Use of interest. The county shall invest in
32 accordance with the Counties Code the principal and interest
33 of the fund which is not being used for disbursement of
34 financial assistance to property owners. All interest which
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1 accrues on investment of the fund's principal and interest
2 and on loans shall be deposited into the fund. Any interest
3 or other dividends resulting from the investment of lead
4 poisoning prevention fund monies pursuant to this subsection
5 (b), and any interest received pursuant to loans made by the
6 lead poisoning prevention fund, may be expended as provided
7 in subsection (a) or for other lead poisoning prevention
8 activities, such as education, community outreach, and other
9 activities the county deems appropriate in the prevention of
10 lead poisoning.
11 (c) Voluntary participation. No property owner shall
12 be required to participate in the assistance program
13 established under this Act or under the implementing county
14 ordinance.
15 (d) No preemption. This amendatory Act of 1998 does not
16 preempt, rescind, modify, or revise any local, State, or
17 federal laws or rules governing lead paint mitigation or
18 abatement or lead poisoning prevention.
19 (e) Insufficient funds. Notwithstanding any other
20 provision of this Act, if the county determines that the
21 balance of funds in the indemnity fund is insufficient to
22 cover the present and future obligations of the indemnity
23 fund, the county may provide for the transfer of funds from
24 the lead poisoning prevention fund, or from any other fund to
25 which excess monies have been transferred, to the indemnity
26 fund. The level of such transfer shall not exceed the amount
27 necessary to satisfy any current obligation of the indemnity
28 fund.
29 Section 99. Effective date. This Act takes effect upon
30 becoming law.".