IL SB2029

Counties acting as trustees for delinquent tax liens may request tax deeds without judicial auction when filing petitions for multiple properties, but must then hold a public auction within 120 days of recording the deed

Property owners who lose their homes through tax deed sales gain the right to recover surplus equity through indemnity claims, which must be filed within 2 years of the tax deed order or 2 years from the Act's effective date

Creates new indemnity fund fees: $300 in counties with 3,000,000+ inhabitants and $100 in smaller counties when tax deeds are issued, plus 10% of principal taxes and interest paid by petitioners after redemption period expiration

Expands notice requirements for tax deed proceedings to include municipalities where properties are located, and exempts tax deeds from municipal transfer stamp requirements

Amends the Mortgage Rescue Fraud Act to require distressed property conveyance contracts to inform owners they may have rights to recover surplus equity if a tax deed is issued, and they will lose those rights if they sell the property