IL HB6936

Amends the Property Tax Code by adding Section 21-217 to establish a cap on interest, penalties, and fees charged by penalty bid purchasers.

Limits combined interest, penalties, and fees to a maximum of 18% per annum for any person who successfully exercises a penalty bid under Section 21-215.

Measures the 18% annual cap from the date the penalty bid was offered.

Takes effect immediately upon becoming law.