Bill Status of SB3452  103rd General Assembly

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Short Description:  PROP TX-LAND BANK EXEMPTION

Senate Sponsors
Sen. Steve Stadelman

Last Action

Date	Chamber	Action
1/10/2023	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 200/15-5

35 ILCS 200/16-70

35 ILCS 200/22-5

35 ILCS 200/22-25

Synopsis As Introduced
Amends the Property Tax Code. Provides that, with the exception of a county or taxing district acquiring tax certificates to property, all purchasers or assignees of a property at a tax sale shall pay the clerk postage plus the sum of $10 (currently, the purchaser or assignee). Provides that, not less than one month (currently, 3 months) nor more than 6 months prior to the expiration of the period of redemption, the purchaser or his or her assignee shall prepare and deliver to the clerk of the Circuit Court of the county in which the property is located the required notice, together with the statutory costs for mailing the notice by certified mail, return receipt requested. Provides that, notwithstanding any provision to the contrary, all properties owned and held for future development by specified entities are exempt from property taxes. Provides requirements to claim the exemption. Specifies the County of Cook d/b/a Cook County Land Bank as an entity exempt from property taxes. Provides that, if property is owned and held by a specified entity, then the entity is excluded from needing to file an application with the county board of review or board of appeals. Provides that the decision of the board of review is final with regard to exemptions to the specified entities. Effective immediately.

Actions 

Date	Chamber	Action
1/18/2022	Senate	Filed with Secretary by Sen. Steve Stadelman
1/18/2022	Senate	First Reading
1/18/2022	Senate	Referred to Assignments
1/10/2023	Senate	Session Sine Die