IL HB5047

Changes interest calculation period for tax deed refunds from "date of payment" to "date of the order finding that the order directing the county clerk to issue a tax deed should be vacated" when a court declares a sale in error.

Requires the party who successfully contested a tax deed order to pay court reporter fees, taxes, assessments, and interest to the tax deed grantee within 90 days of the court's finding.

Establishes a 1% per month interest rate on all taxes and special assessments purchased or paid by tax purchasers or deed grantees from the date each amount was paid until the vacating order date.

Adds provisions for interest accrual on subsequent tax and special assessment payments from the end of the redemption period until the vacating order date at 1% per month.

Takes effect immediately upon becoming law.