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IL SB3908
Bill
Status
Introduced
2/6/2026
Primary Sponsor
Celina Villanueva
Click for details
AI Summary
- Establishes the State Tax Deed Equity Fund to pay equity surplus to Illinois property owners who lost property through recorded tax deeds
- Requires tax deed grantees to provide enhanced notice to property owners, including information about their right to claim surplus equity from the sale
- Increases indemnity fund fees: from $20 to $25 per item in smaller counties, and from $80 to $100 per item plus 5% of taxes paid in counties with 3,000,000+ inhabitants
- Adds a nonrefundable 10% indemnity fund fee on subsequent tax payments and redemptions made after the redemption period expires
- Requires counties acquiring tax certificates through forfeiture to pay all nonrefundable fees to fund the equity and indemnity programs
Legislative Description
TAX DEED EQUITY
Last Action
Rule 2-10 Committee Deadline Established As April 24, 2026
3/13/2026
Committee Referrals
Revenue2/24/2026
Assignments2/6/2026
Full Bill Text
No bill text available