LOC GOV-CREDIT CARD AGREEMENTS

Summary

If enacted, this bill would allow Illinois counties acting as trustees to acquire or sell tax delinquent property without judicial auction, and would create a surplus equity fund for property owners who lose equity in tax deed sales. It also imposes a surplus equity fee and provides owners the right to recover lost equity through indemnity. The bill amends the Mobile Home Local Services Tax Enforcement Act to require notice when a distressed property is at risk of loss due to non-payment of real estate taxes.