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| | HB2232 Engrossed | | LRB103 25574 HLH 51923 b |
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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 23-20 as follows: |
6 | | (35 ILCS 200/23-20) |
7 | | Sec. 23-20. Effect of protested payments; refunds. No |
8 | | protest shall prevent or be a cause of delay in the |
9 | | distribution of tax collections to the taxing districts of any |
10 | | taxes collected which were not paid under protest. If the |
11 | | final order of the Property Tax Appeal Board or of a court |
12 | | results in a refund to the taxpayer, refunds shall be made by |
13 | | the collector from funds remaining in the Protest Fund until |
14 | | such funds are exhausted and thereafter from the next funds |
15 | | collected after entry of the final order until full payment of |
16 | | the refund and interest thereon has been made. Interest from |
17 | | the date of payment, regardless of whether the payment was |
18 | | made before the effective date of this amendatory Act of 1997, |
19 | | or from the date payment is due, whichever is later, to the |
20 | | date of refund shall also be paid to the taxpayer at the annual |
21 | | rate of the lesser of (i) 5% or (ii) the percentage increase in |
22 | | the Consumer Price Index For All Urban Consumers during the |
23 | | 12-month calendar year preceding the levy year for which the |