SB0874 Summary

• Amends the Property Tax Code Section 22-5 to establish notice requirements for tax sales, requiring purchasers to deliver notice to county clerks within 4 months and 15 days after a sale.

• Specifies a standardized "TAKE NOTICE" form in at least 10 point type that must include property details, sale information, redemption period expiration date, and redemption amount.

• Requires county clerks to mail copies of the notice by registered or certified mail to the property owner within 10 days of receipt, with purchaser responsible for postage plus a $10 fee.

• Modifies Section 22-40 to require courts to presume owner prejudice if a tax purchaser fails to substantially comply with Section 22-5 notice requirements in tax deed proceedings.

• Expands Section 22-40 to include county governments alongside cities, villages, and towns regarding advancements of public funds under the police power.

• Applies all changes only to tax sales occurring on or after the effective date of the amendments.