IL HB4781

Illinois Housing Development Authority must establish and administer a Land Bank Operations Program to provide annual grants to intergovernmental or county land bank authorities for acquisition, management, disposition, and revitalization of vacant and abandoned properties

Creates a $200 land bank operations fee on each tax certificate purchased at tax sales, payable to the county collector (excludes counties bidding as trustees for taxing districts)

Fee proceeds distributed with 95% remitted to the State Treasurer for deposit into the new Land Bank Operations Fund and 5% retained by county collectors for administrative expenses

Illinois Housing Development Authority must maintain a Technical Assistance Network to provide grant recipients with services from organizations experienced in land banking

Land Bank Operations Fund is protected from state fund sweeps, administrative charge-backs, or any transfers to other state funds; Authority may retain up to 5% of appropriated funds for administrative costs