IL SB3569

Creates the Fairness in Property Tax Foreclosure Task Force to study and make recommendations concerning property foreclosure issues related to unpaid property taxes.

Task Force membership includes 14 appointed positions (state officials, representatives from assessors, municipalities, realtors, bankers, attorneys, county officials) plus up to 5 additional members, with two co-chairpersons appointed by the Senate President and House Speaker.

Task Force shall examine the U.S. Supreme Court decision in Tyler v. Hennepin County regarding excess revenue retention, constitutional due process and takings requirements, roles of land banks and lienholders, differences between residential and commercial property foreclosures, and sufficiency of redemption periods.

Members serve without compensation but may be reimbursed for expenses; Illinois Housing Development Authority provides administrative support; Task Force must meet at least 4 times and submit findings and recommendations to the General Assembly by December 30, 2024.

Task Force members are exempt from ethics training, disclosure, and filing requirements under state ethics laws; Task Force is dissolved upon submission of report and entire provision is repealed January 1, 2025.