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92_HB4082sam001 LRB9214490AGmbam01 1 AMENDMENT TO HOUSE BILL 4082 2 AMENDMENT NO. . Amend House Bill 4082 as follows: 3 on page 1, line 5, by replacing "Section 21-220" with 4 "Sections 21-220 and 21-355"; and 5 on page 2, below line 5, by inserting the following: 6 "(35 ILCS 200/21-355) 7 Sec. 21-355. Amount of redemption. Any person desiring 8 to redeem shall deposit an amount specified in this Section 9 with the county clerk of the county in which the property is 10 situated, in legal money of the United States, or by 11 cashier's check, certified check, post office money order or 12 money order issued by a financial institution insured by an 13 agency or instrumentality of the United States, payable to 14 the county clerk of the proper county. The deposit shall be 15 deemed timely only if actually received in person at the 16 county clerk's office prior to the close of business as 17 defined in Section 3-2007 of the Counties Code on or before 18 the expiration of the period of redemption or by United 19 States mail with a post office cancellation mark dated not 20 less than one day prior to the expiration of the period of 21 redemption. The deposit shall be in an amount equal to the 22 total of the following: -2- LRB9214490AGmbam01 1 (a) the certificate amount, which shall include all 2 tax principal, special assessments, interest and 3 penalties paid by the tax purchaser together with costs 4 and fees of sale and fees paid under Sections 21-295 and 5 21-315 through 21-335; 6 (b) the accrued penalty, computed through the date 7 of redemption as a percentage of the certificate amount, 8 as follows: 9 (1) if the redemption occurs on or before the 10 expiration of 6 months from the date of sale, the 11 certificate amount times the penalty bid at sale; 12 (2) if the redemption occurs after 6 months 13 from the date of sale, and on or before the 14 expiration of 12 months from the date of sale, the 15 certificate amount times 2 times the penalty bid at 16 sale; 17 (3) if the redemption occurs after 12 months 18 from the date of sale and on or before the 19 expiration of 18 months from the date of sale, the 20 certificate amount times 3 times the penalty bid at 21 sale; 22 (4) if the redemption occurs after 18 months 23 from the date of sale and on or before the 24 expiration of 24 months from the date of sale, the 25 certificate amount times 4 times the penalty bid at 26 sale; 27 (5) if the redemption occurs after 24 months 28 from the date of sale and on or before the 29 expiration of 30 months from the date of sale, the 30 certificate amount times 5 times the penalty bid at 31 sale; 32 (6) if the redemption occurs after 30 months 33 from the date of sale and on or before the 34 expiration of 36 months from the date of sale, the -3- LRB9214490AGmbam01 1 certificate amount times 6 times the penalty bid at 2 sale. 3 In the event that the property to be redeemed 4 has been purchased under Section 21-405, the penalty 5 bid shall be 12% per penalty period as set forth in 6 subparagraphs (1) through (6) of this subsection 7 (b). The changes to this subdivision (b)(6) made by 8 this amendatory Act of the 91st General Assembly are 9 not a new enactment, but declaratory of existing 10 law. 11 (c) The total of all taxes, special assessments, 12 accrued interest on those taxes and special assessments 13 and costs charged in connection with the payment of those 14 taxes or special assessments, which have been paid by the 15 tax certificate holder on or after the date those taxes 16 or special assessments became delinquent together with 17 12% penalty on each amount so paid for each year or 18 portion thereof intervening between the date of that 19 payment and the date of redemption. In counties with less 20 than 3,000,000 inhabitants, however, a tax certificate 21 holder may not pay all or part of an installment of a 22 subsequent tax or special assessment for any year, nor 23 shall any tender of such a payment be accepted, until 24 after the second or final installment of the subsequent 25 tax or special assessment has become delinquent or until 26 after the holder of the certificate of purchase has filed 27 a petition for a tax deed under Section 22.30. The 28 person redeeming shall also pay the amount of interest 29 charged on the subsequent tax or special assessment and 30 paid as a penalty by the tax certificate holder. This 31 amendatory Act of 1995 applies to tax years beginning 32 with the 1995 taxes, payable in 1996, and thereafter. 33 (d) Any amount paid to redeem a forfeiture 34 occurring subsequent to the tax sale together with 12% -4- LRB9214490AGmbam01 1 penalty thereon for each year or portion thereof 2 intervening between the date of the forfeiture redemption 3 and the date of redemption from the sale. 4 (e) Any amount paid by the certificate holder for 5 redemption of a subsequently occurring tax sale. 6 (f) All fees paid to the county clerk under Section 7 22-5. 8 (g) All fees paid to the registrar of titles 9 incident to registering the tax certificate in compliance 10 with the Registered Titles (Torrens) Act. 11 (h) All fees paid to the circuit clerk and the 12 sheriff or coroner in connection with the filing of the 13 petition for tax deed and service of notices under 14 Sections 22-15 through 22-30 and 22-40 in addition to (1) 15 a fee of $35 if a petition for tax deed has been filed, 16 which fee shall be posted to the tax judgement, sale, 17 redemption, and forfeiture record, to be paid to the 18 purchaser or his or her assignee; (2) a fee of $4 if a 19 notice under Section 22-5 has been filed, which fee shall 20 be posted to the tax judgment, sale, redemption, and 21 forfeiture record, to be paid to the purchaser or his or 22 her assignee; and (3) all costs paid to record a lis 23 pendens notice in connection with filing a petition under 24 this Code. The fees in (1) and (2) of this paragraph (h) 25 shall be exempt from the posting requirements of Section 26 21-360. 27 (i) All fees paid for publication of notice of the 28 tax sale in accordance with Section 22-20. 29 (j) All sums paid to any city, village or 30 incorporated town for reimbursement under Section 22-35. 31 (k) All costs and expenses of receivership under 32 Section 21-410, to the extent that these costs and 33 expenses exceed any income from the property in question, 34 if the costs and expenditures have been approved by the -5- LRB9214490AGmbam01 1 court appointing the receiver and a certified copy of the 2 order or approval is filed and posted by the certificate 3 holder with the county clerk. Only actual costs expended 4 may be posted on the tax judgment, sale, redemption and 5 forfeiture record. 6 (l) Up to $125 paid for costs of title insurance 7 and to identify and locate owners and interested parties 8 to the subject real estate. 9 (Source: P.A. 91-924, eff. 1-1-01.)".