Illinois General Assembly - Illinois Compiled Statutes

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35 ILCS 110/20

(35 ILCS 110/20) (from Ch. 120, par. 439.50)

Sec. 20.

If it is determined that the Department should issue a credit or refund
hereunder, the Department may first apply the amount thereof against any
amount of tax or penalty or interest due hereunder, or under the Service
Occupation Tax Act, the Retailers' Occupation Tax Act, the Use Tax Act,
any local occupation or use tax administered by the Department, Section 4 of the Water Commission Act of
1985, subsections (b), (c) and (d) of Section 5.01 of the Local Mass
Transit District Act, or subsections (e), (f) and (g) of Section 4.03 of
the Regional Transportation Authority Act,
from the person entitled to such credit or refund. For
this purpose, if proceedings are pending to determine whether or not any
tax or penalty or interest is due hereunder, or under the Service
Occupation Tax Act, the Retailers' Occupation Tax Act, the Use Tax Act,
any local occupation or use tax administered by the Department, Section 4 of the Water Commission Act of
1985, subsections (b), (c) and (d) of Section 5.01 of the Local Mass
Transit District Act, or subsections (e), (f) and (g) of Section 4.03 of
the Regional Transportation Authority Act,
from such person, the Department may withhold issuance of
the credit or refund pending the final disposition of such proceedings and
may apply such credit or refund against any amount found to be due to the
Department as a result of such proceedings. The balance, if any, of the
credit or refund shall be issued to the person entitled thereto.

Any credit memorandum issued hereunder may be used by the authorized
holder thereof to pay any tax or penalty or interest due or to become due
under this Act, the Service Occupation Tax Act, the
Retailers' Occupation Tax Act, the Use Tax Act,
any local occupation or use tax administered by the Department, Section 4 of the Water Commission Act of
1985, subsections (b), (c) and (d) of Section 5.01 of the Local Mass
Transit District Act, or subsections (e), (f) and (g) of Section 4.03 of
the Regional Transportation Authority Act,
from such holder.
Subject to reasonable rules of the Department, a credit memorandum issued
hereunder may be assigned by the holder thereof to any other person for use
in paying tax or penalty or interest which may be due or become due under
this Act, the Service Occupation Tax Act, the Retailers'
Occupation Tax Act, the Use Tax Act,
any local occupation or use tax administered by the Department, Section 4 of the Water Commission Act of
1985, subsections (b), (c) and (d) of Section 5.01 of the Local Mass
Transit District Act, or subsections (e), (f) and (g) of Section 4.03 of
the Regional Transportation Authority Act,
from the assignee.

In any case which there has been an erroneous refund of tax
payable under this Act, a notice of tax liability may be issued at any
time within 3 years from the making of that refund, or within 5 years from
the making of that refund if it appears that any part of the refund was
induced by fraud or the misrepresentation of a material fact. The amount of
any proposed assessment set forth in the notice shall be limited to the
amount of the erroneous refund.

(Source: P.A. 91-901, eff. 1-1-01.)