Deletes everything after the enacting clause. Creates the Illinois Land Banking Act. Authorizes a municipality to create a land bank authority. Sets forth the powers of a land bank authority. Authorizes a land bank authority to acquire property and issue bonds. Amends the Property Tax Code. Requires the county clerk to send notice of the sale of real property to the municipal clerk under specified circumstances. Amends the Illinois Municipal Code. Provides that a municipality may prescribe rules, regulations, or ordinances for the maintenance of vacant and abandoned properties. Provides that a municipality may collect the reasonable cost of maintaining vacant and abandoned properties. Amends the Code of Civil Procedure. Provides that a municipality shall be provided notice of foreclosures within the boundaries of the municipality. Sets forth notice requirements. Makes other changes.
Deletes everything after the enacting clause. Amends the Illinois Municipal Code. In Sections concerning the removal of nuisances by the corporate authorities of a municipality, provides for a uniform method of filing a lien to recover the costs of removing specified nuisances. Includes the removal costs of (i) cutting and removing neglected weeds, grass, trees, and bushes, (ii) controlling pests, (iii) removing infected trees, and (iv) removing garbage and debris. Sets forth a lien procedure for the removal of specified nuisances from an abandoned residential property. Provides that provisions concerning specified liens are inoperative or repealed on the earlier of December 31, 2013, or upon certification by the Secretary of the Illinois Department of Financial and Professional Regulation that the Mortgage Electronic Registration System program is effectively registering mortgaged residential properties located within the State, is available, without charge, for access by all municipalities in the State, and includes the mortgage servicer's telephone number. Amends the Code of Civil Procedure. Requires that notice of foreclosure be provided to the municipality within the boundary of which the property is located or to the county under specified circumstances. Sets forth notice requirements. Contains other provisions. Effective 60 days after becoming law.