State of Illinois
92nd General Assembly
Legislation

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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.)".

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