Full Text of HB0375 96th General Assembly
HB0375 96TH GENERAL ASSEMBLY
|
|
|
96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010 HB0375
Introduced 1/30/2009, by Rep. Arthur L. Turner SYNOPSIS AS INTRODUCED: |
|
35 ILCS 200/20-178 |
|
35 ILCS 200/21-320 |
|
35 ILCS 200/23-20 |
|
|
Amends the Property Tax Code. In Sections concerning interest paid on refunds due on certificates of error, sales in error, and refunds based on a final order of the Property Tax Appeal Board, provides that the interest shall be calculated as simple interest based only on the principal amount of the refund. Effective immediately.
|
| |
|
|
| FISCAL NOTE ACT MAY APPLY | |
|
|
A BILL FOR
|
|
|
|
|
HB0375 |
|
LRB096 02886 HLH 12900 b |
|
| 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 |
| Sections 20-178, 21-320, and 23-20 as follows:
| 6 |
| (35 ILCS 200/20-178)
| 7 |
| Sec. 20-178. Certificate of error; refund; interest. When | 8 |
| the county
collector
makes any refunds
due on certificates of | 9 |
| error issued under Sections 14-15 through 14-25
that have been | 10 |
| either
certified or adjudicated, the county collector shall pay | 11 |
| the taxpayer interest
on the amount of the refund
at the rate | 12 |
| of 0.5% per month. Any interest calculated pursuant to this | 13 |
| Section shall be simple interest based only on the principal | 14 |
| amount of the refund.
| 15 |
| No interest shall be due under this Section for any time | 16 |
| prior to 60 days
after
the effective date of
this amendatory | 17 |
| Act of the 91st General Assembly. For certificates of error
| 18 |
| issued prior to
the
effective date of this amendatory
Act of | 19 |
| the 91st General Assembly, the county collector shall
pay the | 20 |
| taxpayer interest from 60 days after the effective date of this
| 21 |
| amendatory Act of the 91st General Assembly
until the date the | 22 |
| refund is
paid. For certificates of error issued on or after | 23 |
| the effective date of this
amendatory Act of the 91st General |
|
|
|
HB0375 |
- 2 - |
LRB096 02886 HLH 12900 b |
|
| 1 |
| Assembly,
interest shall be paid from 60
days after the | 2 |
| certificate of error is issued by the chief county assessment
| 3 |
| officer to the
date the refund is made.
To cover the cost of | 4 |
| interest, the county collector shall proportionately
reduce | 5 |
| the distribution of
taxes collected for each taxing district in | 6 |
| which the property is situated.
| 7 |
| This Section shall not apply to any certificate of error | 8 |
| granting a homestead
exemption under
Section 15-170, 15-172,
| 9 |
| 15-175, 15-176, or 15-177.
| 10 |
| (Source: P.A. 95-644, eff. 10-12-07.)
| 11 |
| (35 ILCS 200/21-320)
| 12 |
| Sec. 21-320.
Refund of other taxes paid by holder of | 13 |
| certificate of
purchase.
If a sale in error under Section | 14 |
| 21-310, 22-35, or 22-50 is declared, the
amount refunded shall | 15 |
| also include other taxes paid or redeemed by the owner of
the | 16 |
| certificate
of purchase or
his or her assignor subsequent to | 17 |
| the tax sale, together with
interest on those other taxes under | 18 |
| the same terms as interest is
otherwise
payable under Section | 19 |
| 21-315. The interest under this subsection shall be
calculated | 20 |
| at the rate of 1% per month from the date the other taxes
were | 21 |
| paid and not from the date of sale. Any interest calculated | 22 |
| pursuant to this Section shall be simple interest based only on | 23 |
| the principal amount of the refund. The collector shall take | 24 |
| credit
in settlement of his or her accounts for the refund of | 25 |
| the other taxes as in
other cases of sale in error under |
|
|
|
HB0375 |
- 3 - |
LRB096 02886 HLH 12900 b |
|
| 1 |
| Section 21-310.
| 2 |
| (Source: P.A. 92-224, eff. 1-1-02; 92-729, eff. 7-25-02.)
| 3 |
| (35 ILCS 200/23-20)
| 4 |
| Sec. 23-20. Effect of protested payments; refunds. No | 5 |
| protest shall
prevent or be a cause of delay in the | 6 |
| distribution of
tax collections to the taxing districts of any | 7 |
| taxes collected which were
not paid under protest.
If the final | 8 |
| order of the Property Tax Appeal Board or of a court results
in | 9 |
| a refund to the taxpayer, refunds shall be made by the | 10 |
| collector from
funds
remaining in the Protest Fund until such | 11 |
| funds are exhausted and
thereafter from the next funds | 12 |
| collected after entry of the final order until
full payment of | 13 |
| the refund and interest thereon has been made. Interest from | 14 |
| the date of payment, regardless of whether the
payment was made | 15 |
| before the effective date of
this
amendatory Act of 1997, or | 16 |
| from the date payment is due,
whichever is
later, to the date | 17 |
| of refund shall also be paid
to
the taxpayer at the annual rate | 18 |
| of the lesser of (i) 5% or (ii) the percentage increase in the | 19 |
| Consumer Price Index For All Urban Consumers during the | 20 |
| 12-month calendar year preceding the levy year for which the | 21 |
| refund was made, as published by the federal Bureau of Labor | 22 |
| Statistics. Any interest calculated pursuant to this Section | 23 |
| shall be simple interest based only on the principal amount of | 24 |
| the refund.
| 25 |
| (Source: P.A. 94-558, eff. 1-1-06.)
|
|
|
|
HB0375 |
- 4 - |
LRB096 02886 HLH 12900 b |
|
| 1 |
| Section 99. Effective date. This Act takes effect upon | 2 |
| becoming law.
|
|