REVENUE-TECH

Summary

If enacted, this bill would create a pilot program in counties with 3 million or more inhabitants (likely Cook County) allowing the county to acquire tax certificates on certain homestead properties at annual tax sales, limited to 200 properties or 50% of offerings. Owners would have a 365-day redemption period after the tax deed is recorded; if not redeemed, the property goes to a judicial tax deed auction. The bill also prohibits collusive bidding and amends notice and redemption period provisions for owner-occupied properties with 6 or fewer units, extending the redemption period to 3 years before a judicial sale.