IllinoisHB3421104th General Assembly (2025–2026)HouseWALLET

PROP TX-EQUITY FUND

Sponsored By: Sonya M. Harper (Democratic)

In Committee

Summary

Amends the Property Tax Code. Establishes an Equity Fund. Provides that moneys in the Equity Fund shall be expended exclusively for the purpose of paying the amount ordered for equity surplus payments to Illinois property owners who have lost their property by a recorded tax deed, except that, whenever the State Treasurer determines that any such moneys in the Equity Fund exceed the amount required for the purpose of paying equity surplus payments resulting from property ownership being divested by tax deed, the State Treasurer may transfer any such excess amounts from the Equity Fund to the General Revenue Fund. Provides for an irrevocable and continuing appropriation from Illinois tax lien purchasers for the purpose of paying equity surplus payments to the divested property upon the order of the State Treasurer and for the purpose of paying equity surplus to the divested property owner. In provisions concerning the indemnity fund, makes changes to the fees that are collected for tax sales in counties of 3,000,000 or more inhabitants. Sets forth an Equity Fund fee, calculation of the equity surplus, and an application process. Makes conforming and other changes. Amends the State Finance Act to make a conforming change.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Sonya M. Harper

    Democratic • House

Cosponsors

  • Camille Y. Lilly

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 16 • No: 9

House vote • 3/20/2025

Do Pass / Short Debate Revenue & Finance Committee;

Yes: 13 • No: 7

House vote • 3/20/2025

Recommends Do Pass Subcommittee/ Revenue & Finance Committee;

Yes: 3 • No: 2

Actions Timeline

  1. House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

    4/11/2025House
  2. Rule 19(a) / Re-referred to Rules Committee

    4/11/2025House
  3. Added Co-Sponsor Rep. Camille Y. Lilly

    4/8/2025House
  4. Held on Calendar Order of Second Reading - Short Debate

    3/26/2025House
  5. Second Reading - Short Debate

    3/26/2025House
  6. House Floor Amendment No. 1 Rules Refers to Revenue & Finance Committee

    3/25/2025House
  7. House Floor Amendment No. 1 Referred to Rules Committee

    3/24/2025House
  8. House Floor Amendment No. 1 Filed with Clerk by Rep. Sonya M. Harper

    3/24/2025House
  9. Placed on Calendar 2nd Reading - Short Debate

    3/20/2025House
  10. Do Pass / Short Debate Revenue & Finance Committee; 013-007-000

    3/20/2025House
  11. Reported Back To Revenue & Finance Committee;

    3/20/2025House
  12. Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 003-002-000

    3/20/2025House
  13. To Tax Policy: Other Taxes Subcommittee

    3/13/2025House
  14. Assigned to Revenue & Finance Committee

    3/11/2025House
  15. Referred to Rules Committee

    2/18/2025House
  16. First Reading

    2/18/2025House
  17. Filed with the Clerk by Rep. Sonya M. Harper

    2/7/2025House

Bill Text

  • House Amendment 1

  • Introduced

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