Bill Text: IL SB0155 | 2015-2016 | 99th General Assembly | Chaptered

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Bill Title: Amends the Code of Civil Procedure. Makes a technical change in a Section concerning evidence.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Passed) 2015-12-17 - Public Act . . . . . . . . . 99-0493 [SB0155 Detail]

Download: Illinois-2015-SB0155-Chaptered.html

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Public Act 099-0493
SB0155 Enrolled LRB099 03384 HEP 23392 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Code of Civil Procedure is amended by
changing Section 15-1507.1 as follows:
(735 ILCS 5/15-1507.1)
(Section scheduled to be repealed on March 2, 2016)
Sec. 15-1507.1. Judicial sale fee for Abandoned
Residential Property Municipality Relief Fund.
(a) Upon and at the sale of residential real estate under
Section 15-1507, the purchaser shall pay to the person
conducting the sale pursuant to Section 15-1507 a fee for
deposit into the Abandoned Residential Property Municipality
Relief Fund, a special fund created in the State treasury. The
fee shall be calculated at the rate of $1 for each $1,000 or
fraction thereof of the amount paid by the purchaser to the
person conducting the sale, as reflected in the receipt of sale
issued to the purchaser, provided that in no event shall the
fee exceed $300. No fee shall be paid by the mortgagee
acquiring the residential real estate pursuant to its credit
bid at the sale or by any mortgagee, judgment creditor, or
other lienor acquiring the residential real estate whose rights
in and to the residential real estate arose prior to the sale.

Upon confirmation of the sale under Section 15-1508, the person
conducting the sale shall remit the fee to the clerk of the
court in which the foreclosure case is pending. The clerk shall
remit the fee to the State Treasurer as provided in this
Section, to be expended for the purposes set forth in Section
7.31 of the Illinois Housing Development Act.
(b) All fees paid by purchasers as provided in this Section
shall be disbursed within 60 days after receipt by the clerk of
the court as follows: (i) 98% to the State Treasurer for
deposit into the Abandoned Residential Property Municipality
Relief Fund, and (ii) 2% to the clerk of the court to be
retained by the clerk for deposit into the Circuit Court Clerk
Operation and Administrative Fund to defray administrative
expenses related to implementation of this Section.
(c) Not later than March 1 of each year, the clerk of the
court shall submit to the Illinois Housing Development
Authority a report of the funds collected and remitted during
the preceding year pursuant to this Section.
(d) Subsections (a) and (b) of this Section shall become
inoperative on January 1, 2017 2016. This Section is repealed
on March 2, 2017 2016.
(Source: P.A. 98-20, eff. 6-11-13.)