Bill Text: IL SB0060 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. In a Section concerning penalty bids, provides that no bid shall be accepted for a penalty exceeding 6% (instead of 18%) of the amount of the tax or special assessment on property. Effective immediately.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2009-03-13 - Rule 3-9(a) / Re-referred to Assignments [SB0060 Detail]

Download: Illinois-2009-SB0060-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB0060 Introduced 1/30/2009, by Sen. Matt Murphy SYNOPSIS AS INTRODUCED:
35 ILCS 200/21-215
Amends the Property Tax Code. In a Section concerning penalty bids, provides that no bid shall be accepted for a penalty exceeding 6% (instead of 18%) of the amount of the tax or special assessment on property. Effective immediately.
LRB096 03565 HLH 13590 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
SB0060 LRB096 03565 HLH 13590 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 21-215 as follows:
(35 ILCS 200/21-215)
Sec. 21-215. Penalty bids. The person at the sale offering
to pay the amount due on each property for the least penalty
percentage shall be the purchaser of that property. No bid
shall be accepted for a penalty exceeding 6% 18% of the amount
of the tax or special assessment on property.
(Source: P.A. 86-1431; 86-1480; 88-455.)
Section 99. Effective date. This Act takes effect upon
becoming law.