HB2232 EngrossedLRB103 25574 HLH 51923 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 Property Tax Code is amended by changing
5Section 23-20 as follows:
 
6    (35 ILCS 200/23-20)
7    Sec. 23-20. Effect of protested payments; refunds. No
8protest shall prevent or be a cause of delay in the
9distribution of tax collections to the taxing districts of any
10taxes collected which were not paid under protest. If the
11final order of the Property Tax Appeal Board or of a court
12results in a refund to the taxpayer, refunds shall be made by
13the collector from funds remaining in the Protest Fund until
14such funds are exhausted and thereafter from the next funds
15collected after entry of the final order until full payment of
16the refund and interest thereon has been made. Interest from
17the date of payment, regardless of whether the payment was
18made before the effective date of this amendatory Act of 1997,
19or from the date payment is due, whichever is later, to the
20date of refund shall also be paid to the taxpayer at the annual
21rate of the lesser of (i) 5% or (ii) the percentage increase in
22the Consumer Price Index For All Urban Consumers during the
2312-month calendar year preceding the levy year for which the

 

 

HB2232 Engrossed- 2 -LRB103 25574 HLH 51923 b

1refund was made, as published by the federal Bureau of Labor
2Statistics.
3    A claim for a refund resulting from a final order of the
4Property Tax Appeal Board shall not be allowed unless the
5claim is filed within 20 years from the date the right to a
6refund arose; provided, however, that the aggregate total of
7refunded taxes and interest shall not exceed $5,000,000 in any
8calendar year for claims filed more than 7 years after the
9right to the refund arose. If the payment of a claim for a
10refund would cause the aggregate total of taxes and interest
11to exceed $5,000,000 in any year, the refund shall be paid in
12the next succeeding year.
13    The changes made to this Section by this amendatory Act of
14the 103rd General Assembly apply to matters concerning refund
15claims filed on or after the first day of the first month
16following the effective date of this amendatory Act of the
17103rd General Assembly.
18(Source: P.A. 94-558, eff. 1-1-06.)
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.