(35 ILCS 200/27-115) Sec. 27-115. Special service area audits. Each special service area commission shall cause an audit of the funds and accounts of the special service area to be submitted to the corporate authorities of the municipality at least annually. The audit shall be made in accordance with generally accepted auditing standards.
(Source: P.A. 99-930, eff. 1-20-17.) |
(35 ILCS 200/27-120) Sec. 27-120. Exclusion of erroneously included property. If a property is determined by the corporate authorities of the municipality to be erroneously included in a special service area, the corporate authorities of the municipality may disconnect that property from the special service area solely by municipal action without regard to Section 27-60 or Section 27-65 of this Act.
(Source: P.A. 99-930, eff. 1-20-17.) |
(35 ILCS 200/27-125) Sec. 27-125. Administrative fees. Notwithstanding any other provision of law, an annual administrative fee may be charged for the administration of a special service area. Such annual administrative fee may be derived from the annual tax levy for each special service area. Any amount recommended by a special service area commission and approved as an administrative expense which may be paid to the service provider agency pursuant to the budget included in a services contract shall not exceed 30% of the annual tax levy for the special service area that is the subject of such services contract and is separate from any municipal administrative fee.
(Source: P.A. 99-930, eff. 1-20-17.) |
(35 ILCS 200/Art. 28 heading) Article 28.
Special Assessment Apportionment Law
|
(35 ILCS 200/28-1)
Sec. 28-1.
Short title.
This Article may be cited as the Special Assessment
Apportionment Law.
(Source: P.A. 86-1324; 88-455.)
|
(35 ILCS 200/28-5)
Sec. 28-5.
Apportionment upon subdivision.
If a special assessment that is
payable in installments has been made by any corporate authority, for supplying
water, or other corporate purpose, and if all or some of the owner or owners of
any parcel of land so assessed desire to subdivide the parcel, and to apportion
the assessment and the several installments so that each parcel of the proposed
subdivision will bear its just and equitable proportion, it may be
done as provided in this Article.
(Source: P.A. 83-345; 88-455.)
|
(35 ILCS 200/28-10)
Sec. 28-10.
Apportionment petition.
The owner or owners of the parcel of
land shall present to the corporate authority a petition, setting forth:
(a) The descriptive character of the assessment and | ||
| ||
(b) The names of the owners.
(c) A description of the land proposed to be | ||
| ||
(d) A plat showing the proposed subdivision.
(e) The proposed apportionment of the amount of each | ||
| ||
The petition shall
be acknowledged in the manner provided for the acknowledgment of deeds.
(Source: P.A. 83-345; 88-455.)
|
(35 ILCS 200/28-15)
Sec. 28-15.
Approval of petition by corporate authority; effect.
If the
corporate authority is satisfied with the proposed division, it shall cause to
be indorsed upon or attached to the petition its approval by its clerk or
secretary, under its corporate seal. The approved petition shall be filed and
recorded in the office of the county clerk of the county in which the land is
situated, and the apportioned assessment shall stand in place of the original
assessment and the several amounts so apportioned shall be liens upon the
several parcels charged, respectively. For the purpose of collecting the
assessment all proceedings shall be had and taken as if the assessment and
installments had been made and apportioned in the first instance according to
the apportioned description and amounts. The respective owners shall be held to
have waived every and all objections to the assessment and the apportionment.
This Article does not apply to any parcel of land on which any delinquent
installment remains due and unpaid.
(Source: P.A. 83-345; 88-455.)
|
(35 ILCS 200/28-20)
Sec. 28-20.
Apportionment by court.
If the owners are unable to agree as to
the apportionment, or any of them are under legal disability, one or more of
them may file a petition with the circuit court of the county in which the land
so assessed is situated, substantially in the form provided in Section 28-10.
The corporate authority, together with all owners or persons interested, not
joined as petitioners, and unknown owners, if any, shall be made parties
defendant. All proceedings shall be had as in other civil cases. The court may
hear and determine the case according to the right of the matter. A copy of the
record of the proceedings of the court relating to the premises in case of an
apportionment, duly certified, shall be filed and recorded in the office of the
county clerk. As to the land covered by the court's order, the owners of the
land, the apportionment, and the collection of the several amounts
apportioned, the proceedings have the same force and effect as is provided in
Section 28-15 when the corporate authorities approved a petition.
(Source: P.A. 83-345; 88-455.)
|
(35 ILCS 200/Art. 29 heading) Article 29.
Special Assessments Benefiting State Property Law
|
(35 ILCS 200/29-1)
Sec. 29-1.
Short title.
This Article may be cited as the Special Assessment
Benefiting State Property Law.
(Source: P.A. 86-1324; 88-455.)
|
(35 ILCS 200/29-5)
Sec. 29-5.
State policy.
It is the policy of this State that when any unit
of local government makes a local improvement by special assessment or special
tax which benefits abutting State property, the State should pay for the
benefit so conferred on the same basis as other property owners benefited by
that improvement, subject to the same rights as are afforded to those property
owners.
(Source: P.A. 86-933; 88-455.)
|
(35 ILCS 200/29-10)
Sec. 29-10. State must be party to proceedings. No amount may be claimed
from the State by or on behalf of any unit of local government for any local
improvement made by special assessment or special tax that benefits, or is
alleged to benefit, abutting property owned by the State unless the State has
been made a party to all proceedings, has been given all notices, and has been
afforded the same opportunities for hearing and for objecting to the assessment
in the same manner and under the same conditions as provided in the law
applicable to the making of the local improvement by special assessment or
special tax by that unit of local government.
For the purposes of this Article, any notices required under applicable law
must be sent by registered or certified mail to the Director of the Department
or the other State officer having jurisdiction over the State property
affected, to the Director of
Commerce and Economic Opportunity,
and to the Attorney General.
(Source: P.A. 94-793, eff. 5-19-06.)
|
(35 ILCS 200/29-15)
Sec. 29-15. Payment of assessment. When the Attorney General has certified
to the Director of Commerce and Economic Opportunity that the amount, in the
nature of a special assessment by which specified abutting State property has
been benefited by a specified local improvement, has been determined in
compliance with this Article, the Director shall, to the extent that
appropriations are available for that purpose, voucher the amount of that
assessment, or $25,000, whichever is less, for payment to the appropriate unit
of local government. When the amount appropriated in any fiscal year for those
purposes is insufficient to pay a special assessment totalling $25,000 or less
in full, the balance of that special assessment shall be vouchered for payment
from the appropriation for those purposes for the next succeeding fiscal year.
If the amount of the assessment exceeds $25,000, the Director of the
Department or the other State officer having jurisdiction over the property
affected shall include in the Department's budget for the next succeeding
fiscal year a request for the appropriation of the amount by which the
assessment exceeds $25,000, plus interest, if any, which shall be vouchered for
payment from that appropriation.
(Source: P.A. 94-793, eff. 5-19-06.)
|
(35 ILCS 200/29-20)
Sec. 29-20.
No lien on State property.
Nothing in this Article permits the
imposition or enforcement of a lien on State property.
(Source: P.A. 86-933; 88-455.)
|
(35 ILCS 200/Art. 30 heading) Article 30.
Fiscal Responsibility Law
|
(35 ILCS 200/30-1)
Sec. 30-1.
Short title.
This Article may be cited as the Fiscal
Responsibility Law.
(Source: P.A. 88-455.)
|
(35 ILCS 200/30-5)
Sec. 30-5.
Definition.
As used in this Article, "taxing district" has the
meaning stated in Section 1-150.
(Source: P.A. 84-205; 88-455.)
|
(35 ILCS 200/30-10)
Sec. 30-10.
Special reserve fund.
The governing body of any taxing district
may, by ordinance or resolution, establish a special reserve fund for the
purpose of accumulating monies to pay refunds of erroneously or illegally
collected taxes. A taxing district establishing a special fund may transfer
into the fund each year taxes or monies from the general corporate fund to be
used solely for the payment of tax refunds and expenses incident to refunds.
The balance of the fund shall not exceed 1/2 of 1% of the equalized assessed
valuation of property in the taxing district.
(Source: P.A. 84-205; 88-455.)
|
(35 ILCS 200/30-15)
Sec. 30-15.
Effect of fund on levies.
A tax levy of a taxing district shall
not be deemed invalid for the sole reason that the taxing district has
accumulated monies in a special reserve fund pursuant to this Article.
(Source: P.A. 84-205; 88-455.)
|
(35 ILCS 200/30-20)
Sec. 30-20.
Tax reimbursement account.
If the corporate authorities of a
taxing district determine that the taxing district has on hand surplus
funds from any source, then the corporate authorities may transfer those
surplus funds into a tax reimbursement account.
(Source: P.A. 87-737; 87-767; 88-455.)
|
(35 ILCS 200/30-25)
Sec. 30-25.
Distributions from account.
(a) At the direction of the corporate
authorities of a taxing district, the treasurer of the taxing district shall
disburse the amounts held in the tax reimbursement account. Unless the taxing
district has divided the moneys as provided in subsection (b), disbursements
shall
be made to all of the owners of taxable homestead property within the taxing
district. Each owner of taxable homestead property shall receive a
proportionate share of the total disbursement based on the amount of ad valorem
taxes on taxable homestead property paid by the owner to the taxing district
under the most recent tax bill.
(b) The corporate authorities of a taxing district may direct the
treasurer to
divide the moneys deposited into the account into 2 separate pools to be
designated the homestead property pool and the commercial or industrial
property pool. The
amount to be deposited into each pool shall be determined by the corporate
authorities of the taxing district, except that at least 50% of the moneys in
the
account shall be deposited into the homestead property pool. The treasurer
shall
disburse the amounts held in each pool in the tax reimbursement account at the
direction of the corporate authorities. Disbursements from the homestead
property
pool shall be made to all of the owners of taxable homestead property within
the
taxing district. Each owner of taxable homestead property shall receive a
proportionate share of the total disbursement from the pool based on the amount
of
ad valorem taxes on taxable homestead property paid by the owner to the taxing
district under the most recent tax bill. Disbursements from the commercial or
industrial
property pool shall be made to all of the owners of taxable commercial or
industrial
property,
except those owners whose property is located within a tax increment financing
district or those owners whose property is classified as an apartment building.
Each eligible owner of taxable commercial or industrial property shall receive
a
proportionate share of the total disbursement from the pool based on the amount
of
ad valorem taxes on taxable commercial or industrial property paid by the owner
to the
taxing district under the most recent tax bill.
(c) In determining the proportionate share of each owner of homestead
property, the numerator
shall
be the amount of taxes on homestead property paid by that owner to the
taxing district under the most recent tax bill, and the denominator shall
be the aggregate total of all taxes on homestead property paid by all
owners to the taxing district under the most recent tax bills.
(d) In determining the proportionate share of each owner of commercial or
industrial
property, the numerator shall be the amount of taxes on commercial or
industrial property
paid by that owner to the taxing district under the most recent tax bill, and
the
denominator shall be the aggregate total of all taxes on commercial or
industrial property
paid by all owners to the taxing district under the most recent tax bills less
taxes
paid on commercial or industrial property located in a tax increment financing
district
and
taxes paid on an apartment building.
(Source: P.A. 90-471, eff. 8-17-97.)
|
(35 ILCS 200/30-30)
Sec. 30-30.
Fiscal Responsibility Report Card.
The corporate authority of
each taxing district, other than a school district, that imposes ad valorem
taxes, within 180 days of the conclusion of the fiscal year of the taxing
district, shall submit to the State Comptroller and the county clerk of
each county in which a part of the taxing district is located a Fiscal
Responsibility Report Card in the form prescribed by the State Comptroller
after consultation with other State Constitutional officers as the State
Comptroller selects. The Fiscal Responsibility Report Card shall inform
taxpayers about the amounts, sources, and uses of tax revenues received and
expended by the taxing district.
(Source: P.A. 87-782; 87-1002; 88-455; incorporates 88-280;
88-670, eff. 12-2-94.)
|
(35 ILCS 200/30-31)
Sec. 30-31. Fiscal Responsibility Report Card; State Comptroller. The State
Comptroller, within 180 days of the conclusion of the fiscal year of the State,
shall make available on the Comptroller's website a Fiscal
Responsibility Report Card in the form prescribed by the State Comptroller
after consultation with other State Constitutional officers selected by the
State Comptroller. The Fiscal Responsibility Report Card shall inform the
General Assembly and the county clerks about the amounts, sources, and uses of
tax revenues received and expended by each taxing district, other than a school
district, that imposes ad valorem taxes.
(Source: P.A. 102-291, eff. 8-6-21.)
|
(35 ILCS 200/Art. 31 heading) Article 31.
Real Estate Transfer Tax Law
|
(35 ILCS 200/31-1)
Sec. 31-1.
Short title.
This Article may be cited as the Real Estate
Transfer Tax Law.
(Source: Laws 1967, p. 1716; P.A. 88-455.)
|
(35 ILCS 200/31-5)
Sec. 31-5. Definitions. "Affixed" means physically or electronically indicated.
"Recordation" includes the issuance of
certificates of title by Registrars of Title under the Registered Titles
(Torrens) Act pursuant to the filing of deeds or trust documents for that
purpose, as well as the recording of deeds or trust documents by recorders.
"Department" means the Department of Revenue.
"Person" means any natural individual, firm, partnership, association,
joint stock company, joint adventure, public or private corporation, limited
liability company, or a receiver, executor, trustee, guardian or other
representative appointed by order of any court.
"Revenue stamp" means physical, electronic, or alternative indicia that indicates the amount of tax paid. "Value" means the amount of the full actual consideration for the real
property or the beneficial interest in real property located in Illinois, including the
amount of any lien on the real property assumed by the transferee.
"Trust document" means a document required to be recorded under the Land
Trust Recordation and Transfer Tax Act and, beginning June 1, 2005, also means any document relating to the transfer of a taxable beneficial interest under this Article.
"Beneficial interest" includes, but is not limited to:
(1) the beneficial interest in an Illinois land trust;
(2) the lessee interest in a ground lease (including | ||
| ||
(3) the indirect interest in real property as | ||
| ||
"Controlling interest" means more than 50% of the
fair
market value of all ownership interests or beneficial interests in a real
estate entity.
"Real estate entity" means any person
including, but not
limited to, any partnership, corporation, limited liability company, trust,
other entity, or
multi-tiered
entity, that exists or acts substantially for the purpose of holding directly
or indirectly title to or
beneficial interest in real property.
There is a rebuttable presumption
that
an entity is a real estate entity if it owns, directly or indirectly, real
property
having a fair market value greater than 75% of the total fair market
value of all of the
entity's assets, determined without deduction for any mortgage, lien, or
encumbrance.
(Source: P.A. 98-929, eff. 8-15-14.)
|
(35 ILCS 200/31-10)
Sec. 31-10. Imposition of tax. A tax is imposed on the privilege of
transferring title to real estate located in Illinois, on the privilege of transferring a beneficial interest in
real
property located in Illinois,
and on the privilege of transferring a controlling interest in a real estate
entity owning property located in Illinois,
at the rate of 50¢ for each $500 of
value or fraction of $500 stated in the declaration required by Section 31-25.
If, however, the transferring document states that the real estate, beneficial interest, or
controlling interest
is
transferred subject to a mortgage, the amount of the mortgage remaining
outstanding at the time of transfer shall not be included in the basis of
computing the tax.
The tax is due if the transfer is made
by one or more related transactions or involves one or more persons or entities
and whether or
not a document is recorded.
(Source: P.A. 93-657, eff. 6-1-04; 93-1099, eff. 6-1-05 .)
|
(35 ILCS 200/31-15)
Sec. 31-15. Collection of tax. (a) Paper revenue stamps. The tax shall be collected by the recorder
or registrar of titles of the county in which the property is situated through the sale of revenue
stamps, the design, denominations and form of which shall be prescribed by the
Department. The revenue
stamps shall be sold by the Department to the recorder or registrar
of titles who shall cause them to be sold for the purposes prescribed.
The Department shall charge at a rate of 50¢ per $500 of value in
units of not less than $500. The recorder or registrar of titles of the several
counties shall sell the revenue stamps at a rate of 50¢ per $500 of
value or fraction of $500. The recorder or registrar of titles may use the
proceeds for the purchase of revenue stamps from the Department. The Department must establish a system to allow the recorder or registrar
of titles to purchase the revenue stamps electronically and must deliver the electronically purchased stamps to the recorder or registrar
of titles.
(b) Electronic revenue stamp or alternative indicia. If the recorder or registrar of titles uses an electronic revenue stamp or alternative indicia, the recorder or registrar of titles shall electronically file a return and electronically remit the tax to the Department on or before the 10th day of the month following the month in which the tax was required to be collected. The return shall disclose the tax collected and other information that the Department may reasonably require. The return shall be filed using a format prescribed by the Department. If a return is not filed or the tax is not fully paid as required under this Section within 15 days of the required time period, the Department may eliminate the recorder or registrar of titles' ability to electronically file its returns and electronically remit the tax until such time as the recorder or registrar of titles fully remits the return and tax amount due. (Source: P.A. 98-929, eff. 8-15-14.)
|
(35 ILCS 200/31-20)
Sec. 31-20. Affixing of stamps. Payment of the tax shall be evidenced by
revenue stamps in the amount required to show full payment of the tax imposed
by Section 31-10. Except as provided in Section 31-45, a deed, document
transferring a controlling interest in real property,
or trust document
shall not be accepted for filing by any recorder or registrar of titles unless
revenue stamps in the required amount have been purchased from the recorder or
registrar of titles of the county where the deed, document transferring a
controlling interest in real property,
or trust document is being
filed for recordation. The revenue stamps shall be affixed to the deed,
document transferring a controlling interest in real property,
or
trust document by the recorder or the registrar of titles either before or
after recording as requested by the grantee. The Department may prescribe a form to which stamps must be affixed that a transferee must file for recordation at the time a declaration is presented if a transferring document is not presented for recordation within 3 business days after the transfer is effected. A person using or affixing a
revenue stamp shall cancel it and so deface it as to render it unfit for reuse
by marking it with his or her initials and the day, month and year when the
affixing occurs. The marking shall be made by writing or stamping in
indelible ink or by perforating with a machine or punch. However, the revenue
stamp shall not be so defaced as to prevent ready determination of its
denomination and genuineness.
(Source: P.A. 93-657, eff. 6-1-04; 93-1099, eff. 6-1-05 .)
|
(35 ILCS 200/31-25)
Sec. 31-25. Transfer declaration. At the time a deed, a document
transferring a controlling interest in real property,
or trust document is
presented for recordation, or within 3 business days after the transfer is
effected, whichever is earlier,
there shall also be presented to the recorder or
registrar of titles a declaration, signed by at least one of the sellers and
also signed by at least one of the buyers in the transaction or by the
attorneys or agents for the sellers or buyers. The declaration shall state
information including, but not limited to: (a) the value of the real property
or beneficial interest in real property located in Illinois
so transferred; (b) the parcel
identifying number of the property; (c) the legal description of
the
property; (d) the date of the deed, the date the transfer was effected,
or the date of the trust document; (e) the type of deed, transfer,
or
trust document; (f) the address of the property; (g) the type of improvement,
if any, on the property; (h) information as to whether the
transfer is
between related individuals or corporate affiliates or is a
compulsory transaction; (i)
the lot size or acreage; (j) the value of personal property sold with the
real estate; (k) the year the contract was initiated if an installment sale;
(l) any homestead exemptions, as provided in Sections 15-170, 15-172, 15-175, and 15-176 as reflected on the most recent annual tax bill; (m) the name, address, and telephone number of the person preparing the
declaration; and (n) whether the transfer is pursuant to compulsory sale. Except as provided in Section 31-45, a deed, a document
transferring a controlling interest in real property,
or trust
document shall not be accepted for recordation unless it is accompanied by a
declaration containing all the information requested
in the declaration. When the declaration is signed by an attorney or agent on
behalf of sellers or buyers who have the power of direction to deal with the
title to the real estate under a land trust agreement, the trustee being the
mere repository of record legal title with a duty of conveying the real estate
only when and if directed in writing by the beneficiary or beneficiaries having
the power of direction, the attorneys or agents executing the declaration on
behalf of the sellers or buyers need identify only the land trust that is the
repository of record legal title and not the beneficiary or beneficiaries
having the power of direction under the land trust agreement. The declaration
form shall be prescribed by the Department and shall contain sales information
questions.
For sales occurring during a period in which the provisions of Section 17-10
require the Department to adjust sale prices for seller paid points and
prevailing cost of cash,
the declaration form shall contain questions
regarding the financing of the sale. The subject of the financing questions
shall include any direct seller participation in the financing of the sale or
information on financing that is unconventional so as to affect the fair cash
value received by the seller. The intent of the sales and financing questions
is to aid in the reduction in the number of buyers required to provide
financing information necessary for the adjustment outlined in Section 17-10.
For sales occurring during a period in which the provisions of Section 17-10
require the Department to adjust sale prices for seller paid points and
prevailing cost of cash,
the declaration form shall include, at a minimum, the following data: (a)
seller paid points, (b) the sales price, (c) type of
financing
(conventional, VA, FHA, seller-financed, or other), (d) down
payment, (e) term,
(f) interest rate, (g) type and description of interest
rate (fixed, adjustable
or renegotiable), and (h) an appropriate place for the inclusion of special
facts or circumstances, if any. The Department
shall
provide an adequate supply of forms to each recorder and registrar of titles in
the State.
(Source: P.A. 96-1083, eff. 7-16-10.)
|
(35 ILCS 200/31-30)
Sec. 31-30.
Use of transfer declaration.
The recorder or registrar of
titles shall not record the declaration, but shall insert on the declaration
and all attachments
the Document Number assigned to the deed or trust document, and shall within
30 days of receipt
transmit the declaration to the chief county assessment officer. The chief
county assessment officer shall insert on the declaration the most recent
assessed value for each parcel of the transferred property and other
information required by the Department, and, within 30 days of receipt or
within 30 days of the adjournment of the board of review for the previous
assessment year, whichever is later, shall transmit all the declarations to the Department.
The
chief county assessment officer may also copy and retain any information
relating to the property transferred to assist in determining the proper
assessed valuation of the property transferred and other properties in his
county.
(Source: P.A. 91-555, eff. 1-1-00.)
|
(35 ILCS 200/31-35)
Sec. 31-35.
Deposit of tax revenue.
(a) Beginning on the effective date of this amendatory Act of the 92nd
General
Assembly and through June 30, 2003,
of the moneys
collected under Section 31-15, 50% shall be deposited
into the Illinois Affordable Housing Trust Fund, 20% into the Open
Space Lands Acquisition and Development Fund, 5% into the
Natural Areas Acquisition Fund, and 25% into the General Revenue Fund.
(b) Beginning July 1, 2003, of the moneys collected under Section 31-15,
50% shall be deposited into the Illinois Affordable Housing Trust Fund, 35%
into the Open Space Lands Acquisition and Development Fund, and 15% into the
Natural Areas Acquisition Fund.
(Source: P.A. 91-555, eff. 1-1-00; 92-536, eff. 6-6-02; 92-874, eff. 7-1-03.)
|
(35 ILCS 200/31-40)
Sec. 31-40.
Real estate in civil townships.
If the real estate described in
the deed is located in a civil township, the recorder or registrar of titles
shall transmit a copy of the declaration to the township or multi-township
assessor for that township. This Section does not apply to any county having an
elected county assessor.
(Source: P.A. 83-358; 88-455.)
|
(35 ILCS 200/31-45)
Sec. 31-45. Exemptions. The following deeds or trust documents shall be
exempt from the provisions of this Article except as provided in this Section:
(a) Deeds representing real estate transfers made | ||
| ||
(b) Deeds to or trust documents relating to (1) | ||
| ||
(c) Deeds or trust documents that secure debt or | ||
| ||
(d) Deeds or trust documents that, without additional | ||
| ||
(e) Deeds or trust documents where the actual | ||
| ||
(f) Tax deeds.
(g) Deeds or trust documents that release property | ||
| ||
(h) Deeds of partition.
(i) Deeds or trust documents made pursuant to | ||
| ||
(j) Deeds or trust documents made by a subsidiary | ||
| ||
(k) Deeds when there is an actual exchange of real | ||
| ||
(l) Deeds issued to a holder of a mortgage, as | ||
| ||
(m) A deed or trust document related to the purchase | ||
| ||
(Source: P.A. 100-201, eff. 8-18-17.)
|
(35 ILCS 200/31-46)
Sec. 31-46. Exemption from tax equal to corporate franchise taxes paid.
If a
transfer of a controlling interest in a real estate entity is taxed under this
Article and the
real estate entity liable for the tax under this Article is also liable for
corporate franchise
taxes under the Business Corporation Act of 1983 as a result of the transfer,
then the real
estate entity is exempt from paying the tax imposed under this Article to the
extent of the
corporate franchise tax paid by the real estate entity as a result of the
transfer. The
exemption shall not reduce the real estate entity's tax liability under this
Article to less
than zero.
(Source: P.A. 93-657, eff. 6-1-04 .) |
(35 ILCS 200/31-47)
Sec. 31-47.
Verification.
In all counties, each transfer declaration
filed under this Law shall include a written statement by both the grantor or
grantor's agent and the grantee or grantee's agent that the information
contained in the declaration is true and correct to the best of his or her
knowledge and
belief. In counties of 3,000,000 or more inhabitants, the declaration shall
also contain a written statement executed by the grantor or the grantor's agent
verifying that, to the best of his or her knowledge, the name of the grantee
shown on the deed or assignment of beneficial interest in a land trust is
either a natural person, an Illinois corporation or foreign corporation
authorized to do business or acquire and hold title to real estate in Illinois,
a partnership authorized to do business or acquire and hold title to real
estate in Illinois, or other entity recognized as a person and authorized to do
business or acquire and hold title to real estate under the laws of Illinois.
In counties of 3,000,000 or more inhabitants, the declaration shall also
contain a written statement executed by the grantee or the grantee's agent
verifying that the name of the grantee shown on the deed or assignment of
beneficial interest in a land trust is either a natural person, an Illinois
corporation or foreign corporation authorized to do business or acquire and
hold title to real estate in Illinois, a partnership authorized to do business
or acquire and hold title to real estate in Illinois, or other entity
recognized as a person and authorized to do business or acquire and hold title
to real estate under the laws of Illinois.
(Source: P.A. 91-555, eff. 1-1-00.)
|
(35 ILCS 200/31-50)
Sec. 31-50.
Penalties.
Any person who willfully falsifies the value of
transferred real estate on the transfer declaration required by Section 31-25
or who willfully falsifies or willfully omits any other information required by
Section 31-25 or who willfully and falsely claims a transaction to be exempt
under Section 31-45 is guilty of a Class B misdemeanor. Any person who
knowingly submits a false statement concerning the identity of a grantee under
the provisions of this Article is guilty of a Class C misdemeanor. A second or
subsequent conviction of an offense is a Class A misdemeanor. A prosecution for
any act in violation of this Article may be commenced at any time within 5
years of the commission of the act. Only the buyer or the buyer's
representative shall attest to the accuracy of the financing information
reported on the declaration and required by Section 31-25. Any person
convicted of any offense under this Law is liable for the tax due in
addition to any fines imposed by the court.
(Source: P.A. 91-555, eff. 1-1-00.)
|
(35 ILCS 200/31-55)
Sec. 31-55.
Public records.
Transfer declarations under this Article are
public records and shall be made available for inspection, upon request,
during regular business hours.
(Source: P.A. 87-543; 88-455.)
|
(35 ILCS 200/31-60)
Sec. 31-60.
Check for violations.
The Department shall conduct spot checks
or investigations of declarations required to be filed by this Article and
may forward information of violations to the State's Attorney of
the county
where the violations occur for prosecution and collection of taxes.
(Source: P.A. 91-555, eff. 1-1-00.)
|
(35 ILCS 200/31-65)
Sec. 31-65.
Additional tax.
The tax imposed by Section 31-10 is in addition
to all other occupation or privilege taxes imposed by the State of Illinois or
by any municipal corporation or political subdivision.
(Source: Laws 1967, p. 1716; P.A. 88-455.)
|
(35 ILCS 200/31-70)
Sec. 31-70.
Rules.
The Department may prescribe reasonable rules for
the administration of this Article, including rules permitting a transfer
declaration in a prescribed electronic form and permitting the electronic
transmission of the transfer declaration using a prescribed method and
format.
(Source: P.A. 91-555, eff. 1-1-00.)
|
(35 ILCS 200/Art. 32 heading) Article 32.
Continuation of Prior Law - Statutes Repealed
|
(35 ILCS 200/32-1)
Sec. 32-1.
Prior law.
(a) A provision of this Code that is the same as a prior law shall be
construed as a continuation of the prior law and not as a new or different law.
(b) A citation in another Act to an Act or to a Section of an
Act that is continued in this Code shall be construed to be a citation to that
continued provision in this Code.
(Source: P.A. 88-455.)
|
(35 ILCS 200/32-5)
Sec. 32-5.
Other Acts of the 88th General Assembly.
If any other Act of
the 88th General Assembly changes, adds, or repeals a provision of prior law
that is continued in this Code, than that change, addition, or repeal in the
other Act shall be construed together with this Code.
(Source: P.A. 88-455.)
|
(35 ILCS 200/32-10)
Sec. 32-10.
Home rule; mandates.
Nothing in this Code as initially
enacted (i) is a denial or limitation on home rule powers where no denial or
limitation existed under prior law or (ii) creates a State mandate under the
State Mandates Act where no mandate existed under prior law.
(Source: P.A. 88-455.)
|
(35 ILCS 200/32-15)
Sec. 32-15.
Titles; articles; captions.
The language contained in the
Titles, Articles, Captions, and
Section and subsection headings in this Code:
(a) is intended only as a general description that is not a part of the
substantive provisions of this Code;
(b) does not take precedence over the content of the substantive provisions
of this Code; and
(c) shall not be used in construing the meaning of the substantive
provisions of this Code.
(Source: P.A. 88-455.)
|
(35 ILCS 200/32-17)
Sec. 32-17.
Severability.
The provisions of this amendatory Act of 1995 are
severable under Section 1.31 of the Statute on Statutes.
(Source: P.A. 89-126, eff. 7-11-95.)
|
(35 ILCS 200/32-20)
Sec. 32-20.
Statutes repealed.
The following Acts are repealed:
The Local Tax Reimbursement Act.
The Special Assessment Apportionment Act.
The Revenue Act of 1939.
The Truth in Taxation Act.
The Uncollectable Tax Act.
The Real Property Improvement Assessment Act.
The Real Estate Transfer Tax Act.
The Special Service Area Tax Act.
The Special Assessment Benefiting State Property Act.
The Local Governmental Tax Collection Act.
The Taxing District Reserve Fund Act.
The Limitation on Collection of Personal Property Tax Act.
The Property Tax Extension Limitation Act.
The Fiscal Responsibility Report Card Act.
(Source: P.A. 88-455.)
|