IL SB3940

Counties may elect to acquire or sell tax-delinquent property as trustee for taxing districts, with authority to bid at sales, obtain tax deeds without judicial auction, and conduct public tax deed auctions

Property owners who lose property through tax deed auctions gain the right to recover surplus equity through an indemnity award when sale proceeds exceed the tax debt owed

Redemption period extended to 3 years from date of sale for properties in counties with 3,000,000 or more inhabitants (Cook County)

Counties conducting tax deed auctions must provide notice via first class and certified mail to owners, publish notices for 3 consecutive weeks, and post property lists online at least 21 days before auction; notices in Cook County must include translations in Spanish, Polish, and Mandarin Chinese

Minimum bids at county tax deed auctions must equal total delinquent taxes, penalties, municipal advancements, and county costs; surplus proceeds above this amount must be paid to former property owners