HB 3040 Illinois House · 103rd Regular Session

PROPERTY TAX CODE-VARIOUS

Summary
Amends the Property Tax Code. Modifies procedures relating to forfeited properties, including that the procedures relate to forfeiture of tax liens and certificates, rather than forfeiture of property, and that the tax liens and certificates are forfeited to the county rather than the State. Modifies when a court must declare a sale to be a sale in error and how refunds of costs and taxes are to be refunded (removing interest on costs and taxes paid). Provides that, if a sale is declared to be a sale in error, the tax certificate shall be forfeited to the county as trustee. Provides that vacant nonfarm property and property containing a residential structure with at least 7 units sold under the Code may be redeemed at any time before the expiration of one year (rather than 6 months) from the date of the sale (removing restrictions on the delinquency or forfeiture status of the property). Modifies other provisions relating to redemption of property, including the extension of the period of redemption. Modifies a provision relating to special assessments withdrawn (removing forfeiture language) and repeals other provisions about special assessments withdrawn or forfeited. Modifies provisions relating to notice of sale and redemption rights. Modifies various provisions concerning tax deeds. Repeals a provision concerning the denial of deeds. Makes other changes. Effective immediately.
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
Governor
Introduced Feb 16, 2023 Last action Feb 16, 2023
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Total actions
3
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0
Committee
1
Feb 16, 2023
Committee
Referred to Rules Committee
lower
1 primary · 0 co-sponsors

Sponsors

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Legislator
Party
State
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P
Photo of Nick Smith
Nick Smith
DDemocratic
IL
34