summary
Introduced
02/06/2025
02/06/2025
In Committee
03/21/2025
03/21/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that, when the county, as trustee, files one petition for more than one delinquent tax lien or certificate, the county may request that the court issue a tax deed to the county, as trustee, without holding a judicial tax deed auction. Provides that the county shall offer the parcel for sale at a public auction within 120 days of recording the tax deed. Sets forth requirements for the county auction. Provides that any owner of property sold under any provision of the Code who sustains loss or damage by reason of the issuance of a tax deed shall have the right to recover surplus equity that was lost in the property through an award of indemnity. Amends the Mortgage Rescue Fraud Act. Provides that a distressed property conveyance contract must contain a statement that the property owner may have the right to obtain money for any equity lost if a tax deed is issued. Effective immediately.
AI Summary
This bill amends the Property Tax Code and the Mortgage Rescue Fraud Act to modify procedures related to tax deed sales and provide additional protections for property owners. The bill introduces several key changes, including allowing counties to file a single petition for multiple delinquent tax liens and request a tax deed without a judicial auction. Counties would be required to offer such properties at a public auction within 120 days of recording the tax deed, with specific notice and bidding requirements. The bill also establishes a new provision allowing property owners who have lost their property through a tax deed to potentially recover surplus equity through an indemnity claim. Additionally, the Mortgage Rescue Fraud Act is amended to require that distressed property conveyance contracts now include a notice informing property owners about their potential right to recover equity lost through a tax deed, and advising them to consult an attorney before selling their property. The bill aims to provide more transparency and potential recourse for property owners facing tax-related property sales while streamlining the process for counties managing delinquent tax properties.
Committee Categories
Budget and Finance
Sponsors (6)
Will Guzzardi (D)*,
Dee Avelar (D),
Kelly Cassidy (D),
Laura Faver Dias (D),
Stephanie Kifowit (D),
Rita Mayfield (D),
Last Action
Added Co-Sponsor Rep. Dagmara Avelar (on 05/09/2025)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3146&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| BillText | https://www.ilga.gov/legislation/104/HB/10400HB3146.htm |
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