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HB4700 Engrossed |
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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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