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Public Act 094-0362 |
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AN ACT concerning taxes.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Property Tax Code is amended by changing | ||||
Section 21-330 as follows:
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(35 ILCS 200/21-330)
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Sec. 21-330. Fund for payment of interest. In counties of | ||||
under 3,000,000
inhabitants, the county board may impose a fee | ||||
of up to $60, which shall be
paid
to the county collector, upon | ||||
each person purchasing any property at a sale
held under this | ||||
Code, prior to the issuance of any certificate of purchase.
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Each person purchasing
any
property at a sale held under this | ||||
Code in a county with 3,000,000 or more
inhabitants shall pay | ||||
to the county collector,
prior to the issuance of any | ||||
certificate of purchase, a fee of $100 for each
item purchased. | ||||
That amount shall be included in the
price paid for the | ||||
certificate of purchase and the amount required to redeem
under | ||||
Section 21-355.
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All sums of money received under this Section shall be paid | ||||
by the
collector to the county treasurer of the county in which | ||||
the property is
situated for deposit into a special fund. It
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shall be the duty of the county treasurer, as trustee of the | ||||
fund, to
invest the principal and income of the fund from time | ||||
to time, if not
immediately required for payments under this | ||||
Section, in investments as are
authorized by Sections 3-10009 | ||||
and 3-11002 of the Counties Code. The fund
shall be held to pay | ||||
interest and costs
by the county treasurer as trustee of the | ||||
fund. No payment shall be made
from the fund except by order of | ||||
the court declaring a sale in error under
Section 21-310, | ||||
22-35, or 22-50
or by declaration of the county collector under | ||||
subsection (c) of Section
21-310.
Any moneys accumulated in the | ||||
fund by the county treasurer in excess of (i) $100,000 in |
counties with 250,000 or less inhabitants or (ii) $500,000 in | ||
counties with more than 250,000 inhabitants shall be paid each | ||
year prior to the commencement of the
annual tax sale, first to | ||
satisfy
any existing unpaid judgments entered pursuant to | ||
Section 21-295, and any funds
remaining thereafter shall be | ||
paid to the general fund of the county.
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(Source: P.A. 92-224, eff. 1-1-02; 92-729, eff. 7-25-02.)
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Section 10. The Mobile Home Local Services Tax Enforcement | ||
Act is amended by changing Section 275 as follows:
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(35 ILCS 516/275)
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Sec. 275. Fund for payment of interest. In counties of | ||
under 3,000,000
inhabitants, the county board may impose a fee | ||
of up to $10, which shall be
paid to the county collector, upon | ||
each person purchasing any mobile home at a
sale held under | ||
this Act, prior to the issuance of any certificate of purchase.
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That amount shall be included in the price paid for the
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certificate of purchase and the amount required to redeem under | ||
Section 300.
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All sums of money received under this Section shall be paid | ||
by the
collector to the county treasurer of the county in which | ||
the mobile home is
situated for deposit into a special fund. It
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shall be the duty of the county treasurer, as trustee of the | ||
fund, to
invest the principal and income of the fund from time | ||
to time, if not
immediately required for payments under this | ||
Section, in investments as are
authorized by Sections 3-10009 | ||
and 3-11002 of the Counties Code. The fund
shall be held to | ||
satisfy orders for payment of interest and costs obtained
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against the county treasurer as trustee of the fund. No payment | ||
shall be made
from the fund except by order of the court | ||
declaring a sale in error under
Section 255. Any moneys | ||
accumulated in the fund by the county treasurer in
excess of | ||
(i) $100,000 in counties with 250,000 or less inhabitants or | ||
(ii) $500,000 in counties with more than 250,000 inhabitants
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shall be paid each year prior to the commencement of the
annual |
tax sale, first to satisfy
any existing unpaid judgments | ||
entered pursuant to Section 235, and any funds
remaining | ||
thereafter shall be paid to the general fund of the county.
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(Source: P.A. 92-807, eff. 1-1-03.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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