HB5636 Summary

• Amends the Property Tax Code Section 21-295 to reinstate a 5% fee on all subsequent taxes, interest, and penalties paid by certificate holders in counties with 3,000,000 or more inhabitants.

• Requires the 5% fee to be collected in addition to the existing $80 annual fee for subsequent tax payments, effective upon the bill's enactment.

• Specifies that the 5% fee requirement was not in effect between December 31, 2006 and the effective date of this amendment, but becomes mandatory again after the amendment takes effect.

• Directs all fees collected to be paid to the County Treasurer for an indemnity fund to be invested and held to satisfy judgments against the County Treasurer as trustee.