IL HB4629

Amends Section 22-35 of the Property Tax Code to require tax purchasers to reimburse holders of notes or receiver's certificates issued under Section 11-31-2 of the Illinois Municipal Code before a tax deed can be issued.

Reimbursement must equal the face amount of the note or receiver's certificate plus any accrued interest.

Provides an alternative option allowing purchasers to request the court set aside the tax sale as a sale in error instead of reimbursing the note or certificate holder.

Exempts proceedings where the county acts as trustee for taxing districts from these reimbursement requirements.

Takes effect immediately upon becoming law.