JUDICIAL FORECLOSURE PROCEDURE Senate SponsorsSen. Robert F. Martwick House Sponsors(Rep. Eva-Dina Delgado) 8/9/2024SenatePublic Act . . . . . . . . . 103-0930 735 ILCS 5/15-1506from Ch. 110, par. 15-1506735 ILCS 5/15-1507from Ch. 110, par. 15-1507735 ILCS 5/15-1507.2 new735 ILCS 5/1510.1 newAmends the Mortgage Foreclosure Article of the Code of Civil Procedure. Allows a judge, sheriff, or other person to conduct a judicial foreclosure sale online in accordance with the Article. Allows the person conducting the sale to engage a third party online sale provider to assist with performance of the online sale and charge an additional fee as a reasonable expense of the sale for costs associated with conducting the sale online. Requires the person conducting the sale online to obtain court approval and demonstrate the ability to provide substantial marketing of the sale, appropriate and documented process and procedures for conducting online auctions, adequate recordkeeping, substantial expertise in online real estate auctions, and adequate data security. Requires, if the sale takes place online and in person, all bids to be simultaneously announced at the in-person sale and visible to the public online at the time the bids are placed. Prohibits a fee from being charged to the public to view properties for sale online, to participate in any auction in person or online, or to purchase property at an auction in person or online. Requires persons seeking to bid online to complete a registration form and to have their identity verified before a bid can be placed online. Provides that no fee may be charged to a bidder or purchaser at the sale of real estate under the Article beyond the winning bid amount to cover an expense of sale. Makes conforming changes.Senate Floor Amendment No. 2 Replaces everything after the enacting clause with the provisions of the introduced bill with the following changes. Authorizes the mortgagee to request that a foreclosure sale be conducted in person, online, or both. Requires that the party who gives notice of a public sale must post on its website the date, time, and place on which an adjourned sale is to be held. Authorizes a sheriff or other person to conduct a sale online. Defines "third-party online sale provider". Limits the fee for an online judicial sale for residential real estate to $400, unless a higher fee is approved by the court. Provides that fees may not reduce or affect sheriff's fees as provided in the Counties Code. Specifies what identification may be used to verify the identity of bidders for a sale online. Provides the satisfactory internal informational security a platform that conducts an online sale must maintain. Provides that if a purchaser's information cannot be verified, the purchaser is in default and the sale may be voided to proceed with a resale. Provides that the person conducting the sale has the discretion to set the terms of the sale. Provides that the person conducting the sale and third-party online sale provider may promote and market the sale to encourage bidding. Provides that the person conducting the sale or third-party online sale provider is solely responsible for paying all fees or expenses incurred in conjunction with these activities.House Floor Amendment No. 2 Deletes reference to:735 ILCS 5/15-1506Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill with the following changes. Deletes the provision that in a judicial sale the person conducting the sale has the discretion to set the terms of sale. Provides that the sheriff or other person conducting the sale may charge an additional fee as a reasonable expense of the sale for costs associated with conducting the sale online. Requires that the purchaser must provide the sale deposit, if applicable, and the balance due to the sheriff or other person conducting the sale at least 24 hours after the end of the sale, unless otherwise set forth by the sheriff or other person conducting the sale, in a designated form. Provides that in every sale of residential real estate conducted online (1) the sale may be held open for bidding for up to 3 days and extended by the person conducting the sale as needed to allow for all active competitive bidding to occur, counted in accordance with the provisions of the Statutes' on Statutes; and (2) bidding shall be open to everyone for the entire duration of the bidding period. 1/26/2024SenateFiled with Secretary by Sen. Robert F. Martwick 1/26/2024SenateFirst Reading 1/26/2024SenateReferred to Assignments 2/6/2024SenateAssigned to Judiciary 2/21/2024SenateDo Pass Judiciary; 009-000-000 2/21/2024SenatePlaced on Calendar Order of 2nd Reading February 22, 2024 3/21/2024SenateSecond Reading 3/21/2024SenatePlaced on Calendar Order of 3rd Reading March 22, 2024 4/3/2024SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick 4/3/2024SenateSenate Floor Amendment No. 1 Referred to Assignments 4/4/2024SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick 4/4/2024SenateSenate Floor Amendment No. 2 Referred to Assignments 4/9/2024SenateSenate Floor Amendment No. 1 Pursuant to Senate Rule 3-8 (b-1), the following amendments will remain in the Committee on Assignments 4/9/2024SenateSenate Floor Amendment No. 2 Assignments Refers to Judiciary 4/10/2024SenateSenate Floor Amendment No. 2 Recommend Do Adopt Judiciary; 009-000-000 4/10/2024SenateRecalled to Second Reading 4/10/2024SenateSenate Floor Amendment No. 2 Adopted 4/10/2024SenatePlaced on Calendar Order of 3rd Reading 4/10/2024SenateThird Reading - Passed; 059-000-000 4/10/2024SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4a 4/10/2024HouseArrived in House 4/11/2024HouseChief House Sponsor Rep. Martin J. Moylan 4/11/2024HouseFirst Reading 4/11/2024HouseReferred to Rules Committee 4/11/2024HouseAlternate Chief Sponsor Changed to Rep. Eva-Dina Delgado 4/24/2024HouseAssigned to Judiciary - Civil Committee 4/26/2024HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Eva-Dina Delgado 4/26/2024HouseHouse Committee Amendment No. 1 Referred to Rules Committee 5/1/2024HouseDo Pass / Short Debate Judiciary - Civil Committee; 015-000-000 5/1/2024HouseHouse Committee Amendment No. 1 Tabled 5/1/2024HousePlaced on Calendar 2nd Reading - Short Debate 5/6/2024HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Eva-Dina Delgado 5/6/2024HouseHouse Floor Amendment No. 2 Referred to Rules Committee 5/13/2024HouseHouse Floor Amendment No. 2 Rules Refers to Judiciary - Civil Committee 5/15/2024HouseHouse Floor Amendment No. 2 Recommends Be Adopted Judiciary - Civil Committee; 014-000-000 5/16/2024HouseSecond Reading - Short Debate 5/16/2024HouseHeld on Calendar Order of Second Reading - Short Debate 5/17/2024HouseThird Reading/Final Action Deadline Extended-9(b) May 24, 2024 5/21/2024HouseHouse Floor Amendment No. 2 Adopted 5/21/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/21/2024HouseThird Reading - Short Debate - Passed 112-000-000 5/21/2024SenateSecretary's Desk - Concurrence House Amendment(s) 2 5/21/2024SenatePlaced on Calendar Order of Concurrence House Amendment(s) 2 - May 21, 2024 5/23/2024SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Robert F. Martwick 5/23/2024SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Assignments 5/23/2024SenateHouse Floor Amendment No. 2 Motion to Concur Assignments Referred to Judiciary 5/23/2024SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Judiciary; 008-000-000 5/24/2024SenateHouse Floor Amendment No. 2 Senate Concurs 057-000-000 5/24/2024SenateSenate Concurs 5/24/2024SenatePassed Both Houses 6/21/2024SenateSent to the Governor 8/9/2024SenateGovernor Approved 8/9/2024SenateEffective Date January 1, 2025 8/9/2024SenatePublic Act . . . . . . . . . 103-0930