IL HB2163

Amends the Property Tax Code Section 21-295 regarding the indemnity fund in counties with 3,000,000 or more inhabitants.

Adds a new fee requirement of 2.5% of the amount of any subsequent taxes paid by the tax purchaser on properties sold at tax sales occurring on or after the effective date.

The 2.5% fee applies when taxes are paid by the tax purchaser and posted to the tax judgment, sale, redemption, and forfeiture record.

These payments to the county collector are included in the purchase price and redemption requirements, except for the nonrefundable $80 initial fee.

Takes effect immediately upon becoming law.