Illinois General Assembly - Bill Status for HB1912

Amends the Property Tax Code. Provides that the county clerk shall distribute any redemption payments, along with any accrued interest and penalties, to the holder of the certificate of purchase (i) within 15 business days after payment is received from the redeeming party or (ii) upon surrender of the certificate of purchase by the certificate holder, whichever occurs later. Provides that, if a redemption payment is made under protest, the county clerk shall distribute the redemption money within 15 business days after a certified copy of the court order directing the county clerk to make such a distribution is presented to the county clerk. Requires tax purchasers to notify the county clerk if the certificate of purchase is assigned or reassigned. Excludes partial redemption payments and redemption payments that have been set aside by court order. Provides that the Section does not apply in counties with more than 3,000,000 inhabitants. Effective January 1, 2012.

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