SB0027 Engrossed

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    AN ACT concerning revenue.

 
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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 23-20 as follows:
 



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    (35 ILCS 200/23-20)



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    Sec. 23-20. Effect of protested payments; refunds. No 
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protest shall
prevent or be a cause of delay in the 
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distribution of
tax collections to the taxing districts of any 
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taxes collected which were
not paid under protest.
Except as 
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otherwise provided in this Section, if
If the final order of 
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the Property Tax Appeal Board or of a court results
in a refund 
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to the taxpayer, refunds shall be made by the collector from

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funds
remaining in the Protest Fund until such funds are 
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exhausted and
thereafter from the next funds collected after 
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entry of the final order until
full payment of the refund and 
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interest thereon has been made. Upon the request of a school 
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district whose revenues are affected by the refund, the 
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collector shall not,  within any single 12-month period, make 
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refunds in excess of $100,000 due from taxes that were 
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collected for that school district for any particular parcel if 
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the refunds are attributable to more than one taxable year, 
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but, instead, the collector must divide the refunds due to any 
 


 






SB0027 Engrossed
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LRB095 03650 BDD 23676 b




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final orders of the Property Tax Appeal Board or a court into 
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at least as many 12-month periods as the number of taxable 
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years for which the refunds are due.  Interest from the date of 
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payment, regardless of whether the
payment was made before the 
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effective date of
this
amendatory Act of 1997, or from the date 
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payment is due,
whichever is
later, to the date of refund shall 
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also be paid
to
the taxpayer at the annual rate of the lesser 
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of (i) 5% or (ii) the percentage increase in the Consumer Price 
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Index For All Urban Consumers during the 12-month calendar year 
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preceding the levy year for which the refund was made, as 
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published by the federal Bureau of Labor Statistics.

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(Source: P.A. 94-558, eff. 1-1-06.)