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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2478 Introduced 2/19/2021, by Rep. Deanne M. Mazzochi SYNOPSIS AS INTRODUCED:
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Amends the Property Tax Code. Provides that, in the case of property that is occupied as a residence by a person who: (1) is 55 years of age or older during the taxable year; (2) is liable for paying real estate taxes on the property; and (3) is an owner of record of the property or has a legal or equitable interest in the property, property taxes shall be paid on a monthly basis. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB2478 | | LRB102 13575 HLH 18923 b |
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| 1 | | AN ACT concerning revenue.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Property Tax Code is amended by adding |
| 5 | | Section 21-41 as follows:
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| 6 | | (35 ILCS 200/21-41 new) |
| 7 | | Sec. 21-41. Due dates; senior citizens. Notwithstanding |
| 8 | | any other due dates provided for under this Act, beginning |
| 9 | | with the 2022 tax year payable in 2023, in the case of property |
| 10 | | that is occupied as a residence by a person who: (1) is 55 |
| 11 | | years of age or older during the taxable year; (2) is liable |
| 12 | | for paying real estate taxes on the property; and (3) is an |
| 13 | | owner of record of the property or has a legal or equitable |
| 14 | | interest in the property as evidenced by a written instrument, |
| 15 | | except for a leasehold interest that is not a leasehold |
| 16 | | interest in land on which a single family residence is |
| 17 | | located, property taxes shall be paid on a monthly basis. |
| 18 | | The property taxes due and payable by an eligible taxpayer |
| 19 | | under this Section shall be billed monthly over a 12-month |
| 20 | | period. Those payments shall be in equal monthly installments |
| 21 | | to the extent practical. The 12-month period shall commence on |
| 22 | | the first due date for property taxes in the county in which |
| 23 | | the property is located. |