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IL SB2750
Bill
AI Summary
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Reduces the penalty rate on delinquent property taxes and special assessments paid by tax certificate holders from 12% to 3% per year when property owners redeem their property after a tax sale
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Amends Section 21-355 of the Illinois Property Tax Code governing the amount required for property redemption
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Applies only to tax sales commenced on or after January 1, 2021
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Takes effect immediately upon becoming law
Legislative Description
PROP TX-REDEMPTION
Last Action
Session Sine Die
1/13/2021
Committee Referrals
Assignments4/12/2020
Revenue2/26/2020
Assignments2/4/2020
Full Bill Text
No bill text available