S U BSIHUIE ORDINANCE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. Section 3-33-040 of the Municipal Code of Chicago is hereby amended by adding the language underscored, as follows:
3- 33-040 Payment of the tax.
A. Except in the case of tax paid pursuant to Section 3-33-100, the tax imposed by this chapter shall be paid by the purchase of tax stamps issued by the department of revenue or its agents.
(Omitted text is unaffected by this ordinance)
F. Neither the director of revenue nor any agent of the director shall issue tax stamps in connection with the initial sale of a residential condominium unit, as that term is defined in section 13-72-010. located in the city that is subject to the provisions of sections 13-72-060(A)(2) and 13-72-085 unless there is presented to the department of revenue or its agent a certificate issued by the commissioner of housing and economic development showing that the provisions of sections 13-72-060(A)(2) and 13-72-085 have been complied with or, if not complied with then, either (i) the fines imposed for violation of such sections have been paid or (ii) the required compliance bond pursuant to section 13-72-110 has been posted.
SECTION 2. Section 4-40-065 of the Municipal Code of Chicago is hereby amended by adding the language underscored and by deleting the language struck through, as follows:
4- 40-065 Duties.
A licensee under this chapter shall have the following duties:
(A) To affix a sign in a conspicuous location at any place where sales information about a residential building or any portion thereof is made available for distribution to prospective purchasers. The sign shall notify prospective purchasers of their right to request and immediately receive a written disclosure statement containing the information described in subsection (B) of this section. The lettering on the sign shall be in prominent type, clearly visible to and readable by the public, and in a color that contrasts with the backgro...
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