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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4700
Introduced 02/04/04, by Robert W. Churchill SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Provides that, as a matter of public policy, for taxes imposed for the 2004 taxable year, payable in 2005, and for each taxable year thereafter the requirement that a mortgage lender must send a copy of the tax bill to each mortgagor of the property may not be waived. Provides that if that requirement was waived before the effective date of this amendatory Act of the 93rd General Assembly, that waiver is void and the mortgage lender must send a copy of the tax bill to each mortgagor of the property beginning with the 2004 taxable year. Effective immediately.
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A BILL FOR
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HB4700 |
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LRB093 14795 SJM 40353 b |
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| AN ACT concerning taxes.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Property Tax Code is amended by changing |
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| Section 20-10 as follows:
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| (35 ILCS 200/20-10)
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| Sec. 20-10. Mailing to mortgage lender. When the copy of |
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| the tax bill is
mailed by the collector to the owner or person |
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| at or in care of the address of
a mortgage lender, the mortgage |
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| lender, within 15 days of receiving the copy,
shall furnish and |
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| mail an additional copy of the bill to each mortgagor of the
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| property at his or her last known address as shown on the |
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| records of the
mortgage lender. However, if the property |
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| referred to in the copy is situated
in a county which uses the |
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| estimated or accelerated billing methods, only an
additional |
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| copy of the bill for the final installment of taxes due with |
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| respect
to the real property shall be furnished and mailed by |
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| the mortgage lender to
the mortgagor. A copy may be used by the |
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| collector in receipting for the tax
paid, and a copy or record |
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| shall be retained by the collector.
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| As a matter of public policy, for taxes imposed for the |
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| 2004 taxable year, payable in 2005, and for each taxable year |
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| thereafter the requirements of this Section may not be waived. |
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| If the requirements of this Section were waived before the |
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| effective date of this amendatory Act of the 93rd General |
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| Assembly, that waiver is void and the mortgage lender must send |
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| a copy of the tax bill to each mortgagor of the property in |
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| accordance with this Section beginning with the 2004 taxable |
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| year.
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| (Source: P.A. 86-957; 87-818; 88-455.)
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