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Sen. Terry Link
Filed: 5/17/2007
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09500HB1558sam001 |
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LRB095 09507 BDD 36452 a |
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| AMENDMENT TO HOUSE BILL 1558
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| AMENDMENT NO. ______. Amend House Bill 1558 on page 2, |
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| immediately below line 7, by inserting the following:
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| "Section 10. The Property Tax Code is amended by changing |
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| Section 21-385 as follows:
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| (35 ILCS 200/21-385)
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| Sec. 21-385. Extension of period of redemption. The
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| purchaser or his or her assignee of property
sold for |
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| nonpayment of general taxes or special assessments may extend
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| the period of redemption at any time before the expiration of |
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| the
original period of redemption, or thereafter prior to the |
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| expiration of any
extended period of redemption, for a period |
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| which will expire not later than 5 years
3
years from the date |
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| of sale, by filing with the county clerk of
the county in which |
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| the property is located a written notice to that
effect |
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| describing the property, stating the date of the sale and
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09500HB1558sam001 |
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LRB095 09507 BDD 36452 a |
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| specifying the extended period of redemption. If prior to the
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| expiration of the period of redemption or extended period of |
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| redemption
a petition for tax deed has been filed under Section
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| 22-30, upon application of the petitioner, the court shall |
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| allow the
purchaser or his or her assignee to extend the period |
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| of redemption after
expiration of the original period or any |
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| extended period of redemption,
provided that any extension |
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| allowed will expire not later than 5 years
3 years from the
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| date of sale. If the period of redemption is extended, the |
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| purchaser or his or
her assignee must give the notices provided |
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| for in Section 22-10 at the
specified times prior to the |
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| expiration of the extended period of redemption by
causing a |
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| sheriff (or if he or she is disqualified, a coroner) of the |
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| county in
which the property, or any part thereof, is located |
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| to serve the notices as
provided in Sections 22-15 and 22-20.
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| The notices may also be served as provided in Sections 22-15 |
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| and 22-20 by a
special process server appointed by the court |
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| under Section 22-15.
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| (Source: P.A. 91-209, eff. 1-1-00; 91-554, eff. 8-14-99.)".
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