|
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB0359
Introduced 1/27/2009, by Rep. André M. Thapedi SYNOPSIS AS INTRODUCED:
|
|
|
|
Amends the Property Tax Code. Makes a technical change in a Section concerning the collection of real estate transfer taxes.
|
| |
|
|
|
|
A BILL FOR
|
|
|
|
|
HB0359 |
|
LRB096 04513 RCE 14567 b |
|
|
| 1 |
| AN ACT concerning revenue.
|
| 2 |
| Be it enacted by the People of the State of Illinois,
|
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Property Tax Code is amended by changing |
| 5 |
| Section 31-15 as follows:
|
| 6 |
| (35 ILCS 200/31-15)
|
| 7 |
| Sec. 31-15. Collection of tax. The
The tax shall be |
| 8 |
| collected by the recorder
or registrar of titles of the county |
| 9 |
| in which the property is situated through the sale of revenue
|
| 10 |
| stamps, the design, denominations and form of which shall be |
| 11 |
| prescribed by the
Department. If requested by the recorder or |
| 12 |
| registrar of titles of a county
that has imposed a county real |
| 13 |
| estate transfer tax under Section 5-1031 of the
Counties Code, |
| 14 |
| the Department shall design the stamps furnished to that county
|
| 15 |
| under this Section so that the same stamp also provides |
| 16 |
| evidence of the payment
of the county real estate transfer tax |
| 17 |
| and shall include in the design of the
stamp the name of the |
| 18 |
| county and an indication that the stamp is evidence of
the |
| 19 |
| payment of both State and county real estate transfer taxes. |
| 20 |
| The revenue
stamps shall be sold by the Department to the |
| 21 |
| recorder or registrar
of titles who shall cause them to be sold |
| 22 |
| for the purposes prescribed.
The Department shall charge at a |
| 23 |
| rate of 50˘ per $500 of value in
units of not less than $500. |