Bill Title: Amends the Property Tax Code. Provides that a county, as trustee, may elect to acquire or sell tax delinquent property. Provides that the owner of property who sustains loss or damage by reason of the issuance of a deed at a tax deed auction shall have the right to recover surplus equity which was lost in the property through an award of indemnity. Provides that, in counties with 3,000,000 or more inhabitants, the period of redemption is 3 years from the date of sale.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Introduced - Dead) 2026-06-01 - Senate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments [SB3940 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2026-02-06	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 002	2026-05-20	Proposed	HTML/Text	Link	View
Senate Amendment 001	2026-05-05	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3940 currently on file.