Task force would study property-tax foreclosure and report recommendations

State legislative leaders, the Governor, and other specified groups would appoint members to a property-tax foreclosure task force. The task force would include state officials and representatives of assessors, municipalities, realtors, banks, property-law attorneys, local records offices, housing organizations, homeownership groups, and taxing districts. The co-chairpersons could add nonvoting participants. Members would serve without pay but could receive reimbursement for necessary expenses. The Illinois Housing Development Authority would provide administrative support as needed. Appointments would be due within 30 days after the Act takes effect. The task force would meet after the required appointments are made and would end when it submits its report or when this section is repealed on January 1, 2027.

Task force members would be exempt from certain state ethics training, disclosure, and filing requirements while serving as members. The exemption would apply only to members acting in their capacity on the Fairness in Property Tax Foreclosure Task Force. The exemption would cover requirements under the State Officials and Employees Ethics Act, the Illinois Governmental Ethics Act, and other applicable state laws or rules imposing training, disclosure, or filing requirements. The exemption would apply during members' service on the task force, beginning when the Act takes effect.

The task force would study property-tax foreclosure and submit findings, conclusions, and recommendations to the General Assembly. The study would cover foreclosures caused by unpaid property taxes, including excess sale proceeds, notice and constitutional rights, lienholder roles, residential and commercial property, former-owner rights, and redemption periods. The task force could recommend legislation, but it would not have to do so. Once all required members are appointed, the task force would have to meet at least four times. Members could attend meetings virtually. The report would be due by December 30, 2026. The task force would dissolve when it submits the report, and the section would be repealed on January 1, 2027.