101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB3845

 

Introduced , by Rep. Daniel Didech - Rita Mayfield - Bob Morgan

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 105/5.891 new
30 ILCS 105/6z-107 new

    Amends the State Finance Act. Creates the Illinois Property Tax Relief Fund. Provides that moneys in the Illinois Property Tax Relief Fund shall be used to pay rebates to residential property taxpayers in the State. Provides that the Fund may accept moneys from any lawful source. Provides that the State Comptroller shall calculate a property tax rebate amount for the applicable property tax year by dividing the total amount appropriated from the Illinois Property Tax Relief Fund by the total number of homestead exemptions granted for homestead property in the State. Provides that the property tax bills of non-delinquent taxpayers who received a general homestead exemption under the Property Tax Code shall be reduced by the property tax rebate amount. Effective immediately.


LRB101 12666 HLH 61244 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3845LRB101 12666 HLH 61244 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The State Finance Act is amended by adding
5Sections 5.891 and 6z-107 as follows:
 
6    (30 ILCS 105/5.891 new)
7    Sec. 5.891. The Illinois Property Tax Relief Fund.
 
8    (30 ILCS 105/6z-107 new)
9    Sec. 6z-107. Illinois Property Tax Relief Fund; creation.
10    (a) The Illinois Property Tax Relief Fund is hereby created
11as a special fund in the State treasury. Moneys in the Fund
12shall be used by the State Comptroller to pay rebates to
13residential property taxpayers in the State as provided in this
14Section. The Fund may accept moneys from any lawful source.
15    (b) Within 30 days after the last day of the application
16period for general homestead exemptions in the county, each
17chief county assessment officer shall certify to the State
18Comptroller the total number of general homestead exemptions
19granted for homestead property in that county for the
20applicable property tax year. As soon as possible after
21receiving certifications from each county under this
22subsection, the State Comptroller shall calculate a property

 

 

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1tax rebate amount for the applicable property tax year by
2dividing the total amount appropriated from the Illinois
3Property Tax Relief Fund for the purpose of making rebates
4under this Section by the total number of homestead exemptions
5granted for homestead property in the State. The county
6treasurer shall reduce each property tax bill for homestead
7property by the property tax rebate amount and shall include a
8separate line item on each property tax bill stating the
9property tax rebate amount from the Illinois Property Tax
10Relief Fund. Within 60 days after calculating the property tax
11rebate amount, the State Comptroller shall make distributions
12from the Illinois Property Tax Relief Fund to each county. The
13amount allocated to each county shall be the property tax
14rebate amount multiplied by the number of general homestead
15exemptions granted in the county for the applicable property
16tax year. The county treasurer shall distribute each taxing
17district's share of property tax collections and distributions
18from the Illinois Property Tax Relief Fund to those taxing
19districts as provided by law.
20    (c) As used in this Section:
21    "Applicable property tax year" means the tax year for which
22a rebate was applied to property tax bills under this Section.
23    "General homestead exemption" means a general homestead
24exemption that was granted for the property under Section
2515-175 of the Property Tax Code.
26    "Homestead property" means property that meets both of the

 

 

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1following criteria: (1) a general homestead exemption was
2granted for the property; and (2) the property tax liability
3for the property is current as of the date of the
4certification.
 
5    Section 99. Effective date. This Act takes effect upon
6becoming law.