91st General Assembly
Summary of HB3942
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House Sponsors:

Short description: 
INDEMNITY FUND-PURCHASER FEES                                              

Synopsis of Bill as introduced:
        Amends the Property Tax  Code.   Provides  that  in  counties  of      
   3,000,000  or  more  inhabitants, each person purchasing property at a      
   tax sale shall pay to the county collector a fee of $80 for each  item      
   purchased  plus  an additional sum equal to 5% of taxes, interest, and      
   penalties paid by the purchaser (now, 5% of total taxes, interest, and      
   penalties paid). Provides that the additional  5%  fees  (rather  than      
   only  one  of  the 2 additional 5% fees imposed in this provision) are      
   not  required  after  December  31,  2006.   In  provisions  regarding      
   redemption procedures, changes a  reference  from  property  purchased      
   under  a  Section  concerning  redemption  of  forfeited property to a      
   reference to property purchased under  a  Section  concerning  special      
   assessments withdrawn or forfeited.  Provides that the changes made by      
   this  amendatory  Act  are  declaratory  of  existing  law.  Effective      
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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