Public Act 099-0493

SB0155 Enrolled LRB099 03384 HEP 23392 b

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois,

represented in the General Assembly:

Section 5. The Code of Civil Procedure is amended by

changing Section 15-1507.1 as follows:

(735 ILCS 5/15-1507.1)

(Section scheduled to be repealed on March 2, 2016)

Sec. 15-1507.1. Judicial sale fee for Abandoned

Residential Property Municipality Relief Fund.

(a) Upon and at the sale of residential real estate under

Section 15-1507, the purchaser shall pay to the person

conducting the sale pursuant to Section 15-1507 a fee for

deposit into the Abandoned Residential Property Municipality

Relief Fund, a special fund created in the State treasury. The

fee shall be calculated at the rate of $1 for each $1,000 or

fraction thereof of the amount paid by the purchaser to the

person conducting the sale, as reflected in the receipt of sale

issued to the purchaser, provided that in no event shall the

fee exceed $300. No fee shall be paid by the mortgagee

acquiring the residential real estate pursuant to its credit

bid at the sale or by any mortgagee, judgment creditor, or

other lienor acquiring the residential real estate whose rights

in and to the residential real estate arose prior to the sale.

Upon confirmation of the sale under Section 15-1508, the person

conducting the sale shall remit the fee to the clerk of the

court in which the foreclosure case is pending. The clerk shall

remit the fee to the State Treasurer as provided in this

Section, to be expended for the purposes set forth in Section

7.31 of the Illinois Housing Development Act.

(b) All fees paid by purchasers as provided in this Section

shall be disbursed within 60 days after receipt by the clerk of

the court as follows: (i) 98% to the State Treasurer for

deposit into the Abandoned Residential Property Municipality

Relief Fund, and (ii) 2% to the clerk of the court to be

retained by the clerk for deposit into the Circuit Court Clerk

Operation and Administrative Fund to defray administrative

expenses related to implementation of this Section.

(c) Not later than March 1 of each year, the clerk of the

court shall submit to the Illinois Housing Development

Authority a report of the funds collected and remitted during

the preceding year pursuant to this Section.

(d) Subsections (a) and (b) of this Section shall become

inoperative on January 1, 2017 2016. This Section is repealed

on March 2, 2017 2016.

(Source: P.A. 98-20, eff. 6-11-13.)