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HB5603 Engrossed |
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LRB096 17895 HLH 33263 b |
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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 adding |
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| Section 20-27 as follows:
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| (35 ILCS 200/20-27 new) |
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| Sec. 20-27. Reimbursement of tax proceeds for annexed |
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| property. Notwithstanding any other provision of law, |
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| beginning in taxable year 2010, if property is annexed to a |
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| municipality under Section 7-1-13 of the Illinois Municipal |
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| Code at any time during the taxable year, any taxpayer who is |
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| liable for paying property taxes on the property during the |
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| taxable year may apply to the municipality for a refund of the |
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| amount of property taxes (i) paid by the taxpayer, (ii) |
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| distributed to the municipality, and (ii) attributable to the |
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| annexed property for the portion of the taxable year during |
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| which the property was not included in the municipality. The |
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| municipality shall refund those amounts to the taxpayer within |
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| 60 days after the application is received. |
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| A home rule unit may not regulate the collection or |
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| distribution of tax proceeds in a manner inconsistent with this |
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| Section. This
subsection is a limitation under subsection (i) |
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| of Section 6 of Article VII of
the Illinois Constitution on the |