IL HB3421 | 2025-2026 | 104th General Assembly
Status
Sponsorship: Partisan Bill (Democrat 2)
Status: Introduced on February 7 2025 - 25% progression
Action: 2025-04-11 - House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 7 2025 - 25% progression
Action: 2025-04-11 - House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Property Tax Code. Establishes an Equity Fund. Provides that moneys in the Equity Fund shall be expended exclusively for the purpose of paying the amount ordered for equity surplus payments to Illinois property owners who have lost their property by a recorded tax deed, except that, whenever the State Treasurer determines that any such moneys in the Equity Fund exceed the amount required for the purpose of paying equity surplus payments resulting from property ownership being divested by tax deed, the State Treasurer may transfer any such excess amounts from the Equity Fund to the General Revenue Fund. Provides for an irrevocable and continuing appropriation from Illinois tax lien purchasers for the purpose of paying equity surplus payments to the divested property upon the order of the State Treasurer and for the purpose of paying equity surplus to the divested property owner. In provisions concerning the indemnity fund, makes changes to the fees that are collected for tax sales in counties of 3,000,000 or more inhabitants. Sets forth an Equity Fund fee, calculation of the equity surplus, and an application process. Makes conforming and other changes. Amends the State Finance Act to make a conforming change.
Title
PROP TX-EQUITY FUND
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-04-11 | House | House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee |
| 2025-04-11 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2025-04-08 | House | Added Co-Sponsor Rep. Camille Y. Lilly |
| 2025-03-26 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2025-03-26 | House | Second Reading - Short Debate |
| 2025-03-25 | House | House Floor Amendment No. 1 Rules Refers to Revenue & Finance Committee |
| 2025-03-24 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 2025-03-24 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Sonya M. Harper |
| 2025-03-20 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2025-03-20 | House | Do Pass / Short Debate Revenue & Finance Committee; 013-007-000 |
| 2025-03-20 | House | Reported Back To Revenue & Finance Committee; |
| 2025-03-20 | House | Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-002-000 |
| 2025-03-13 | House | To Tax Policy: Other Taxes Subcommittee |
| 2025-03-11 | House | Assigned to Revenue & Finance Committee |
| 2025-02-18 | House | Referred to Rules Committee |
| 2025-02-18 | House | First Reading |
| 2025-02-07 | House | Filed with the Clerk by Rep. Sonya M. Harper |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 105 | 5.1030 | New Code | See Bill Text |
| 35 | 200 | 21-295 | Amended Code | Citation Text |
| 35 | 200 | 21-305 | Amended Code | Citation Text |
| 35 | 200 | 21-90 | Amended Code | Citation Text |
| 35 | 200 | 22-100 | New Code | See Bill Text |
| 35 | 200 | 22-101 | New Code | See Bill Text |
| 35 | 200 | 22-40 | Amended Code | Citation Text |
| 35 | 200 | 22-55 | Amended Code | Citation Text |
