§ 5/15-1504.1 Filing fee for Foreclosure Prevention Program Fund

Codes > Illinois Compiled Statutes > Chapter 735 > Act 5 : Article XV > Part 15 : 5/15-1504.1 Filing

§ 15-1504.1. Filing fee for Foreclosure Prevention Program Fund.

   (a) With respect to residential real estate, at the time of the filing of a foreclosure complaint, the plaintiff shall pay to the clerk of the court in which the foreclosure complaint is filed a fee of $50 for deposit into the Foreclosure Prevention Program Fund, a special fund created in the State treasury. 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 7.30 of the Illinois Housing Development Act. All fees paid by plaintiffs to the clerk of the court 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 Foreclosure Prevention Counseling Program Fund, and (ii) 2% to the clerk of the court for administrative expenses related to implementation of this Section.

    (b) 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 pursuant to this Section during the preceding year.