SB3250 EnrolledLRB097 16916 HLH 62104 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 21-15 as follows:
 
6    (35 ILCS 200/21-15)
7    Sec. 21-15. General tax due dates; default by mortgage
8lender. Except as otherwise provided in this Section or Section
921-40, all property upon which the first installment of taxes
10remains unpaid on the later of (i) June 1 or (ii) the day after
11the date specified on the real estate tax bill as the first
12installment due date annually shall be deemed delinquent and
13shall bear interest after that date June 1 at the rate of 1
141/2% per month or portion thereof. Except as otherwise provided
15in this Section or Section 21-40, all property upon which the
16second installment of taxes remains due and unpaid on the later
17of (i) September 1 or (ii) the day after the date specified on
18the real estate tax bill as the second installment due date,
19annually, shall be deemed delinquent and shall bear interest
20after that date September 1 at the same interest rate. All
21interest collected shall be paid into the general fund of the
22county. Payment received by mail and postmarked on or before
23the required due date is not delinquent.

 

 

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1    Property not subject to the interest charge in Section
29-260 or Section 9-265 shall also not be subject to the
3interest charge imposed by this Section until such time as the
4owner of the property receives actual notice of and is billed
5for the principal amount of back taxes due and owing.
6    If an Illinois resident who is a member of the Illinois
7National Guard or a reserve component of the armed forces of
8the United States and who has an ownership interest in property
9taxed under this Act is called to active duty for deployment
10outside the continental United States and is on active duty on
11the due date of any installment of taxes due under this Act, he
12or she shall not be deemed delinquent in the payment of the
13installment and no interest shall accrue or be charged as a
14penalty on the installment until 180 days after that member
15returns from active duty. To be deemed not delinquent in the
16payment of an installment of taxes and any interest on that
17installment, the reservist or guardsperson must make a
18reasonable effort to notify the county clerk and the county
19collector of his or her activation to active duty and must
20notify the county clerk and the county collector within 180
21days after his or her deactivation and provide verification of
22the date of his or her deactivation. An installment of property
23taxes on the property of any reservist or guardsperson who
24fails to provide timely notice and verification of deactivation
25to the county clerk is subject to interest and penalties as
26delinquent taxes under this Code from the date of deactivation.

 

 

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1    Notwithstanding any other provision of law, when any unpaid
2taxes become delinquent under this Section through the fault of
3the mortgage lender, (i) the interest assessed under this
4Section for delinquent taxes shall be charged against the
5mortgage lender and not the mortgagor and (ii) the mortgage
6lender shall pay the taxes, redeem the property and take all
7necessary steps to remove any liens accruing against the
8property because of the delinquency. In the event that more
9than one entity meets the definition of mortgage lender with
10respect to any mortgage, the interest shall be assessed against
11the mortgage lender responsible for servicing the mortgage.
12Unpaid taxes shall be deemed delinquent through the fault of
13the mortgage lender only if: (a) the mortgage lender has
14received all payments due the mortgage lender for the property
15being taxed under the written terms of the mortgage or
16promissory note secured by the mortgage, (b) the mortgage
17lender holds funds in escrow to pay the taxes, and (c) the
18funds are sufficient to pay the taxes after deducting all
19amounts reasonably anticipated to become due for all hazard
20insurance premiums and mortgage insurance premiums and any
21other assessments to be paid from the escrow under the terms of
22the mortgage. For purposes of this Section, an amount is
23reasonably anticipated to become due if it is payable within 12
24months from the time of determining the sufficiency of funds
25held in escrow. Unpaid taxes shall not be deemed delinquent
26through the fault of the mortgage lender if the mortgage lender

 

 

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1was directed in writing by the mortgagor not to pay the
2property taxes, or if the failure to pay the taxes when due
3resulted from inadequate or inaccurate parcel information
4provided by the mortgagor, a title or abstract company, or by
5the agency or unit of government assessing the tax.
6(Source: P.A. 93-560, eff. 8-20-03; 94-312, eff. 7-25-05.)
 
7    Section 99. Effective date. This Act takes effect upon
8becoming law.