HB5049 Summary

• Amends Section 21-305 of the Property Tax Code regarding indemnity fund payments for property owners who lose property through tax deed issuance.

• Adds new subsection (e) requiring any indemnity award issued in favor of a Public Guardian as guardian for the claimant shall be paid within 31 days of judgment entry, provided the judgment order has been tendered to the county treasurer as trustee of the indemnity fund.

• Payment timeline may be extended only by court order.

• Becomes effective immediately upon passage.