State of Illinois
90th General Assembly
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90_HB1118

      35 ILCS 200/23-20
      35 ILCS 200/20-35 rep.
          Amends the Property Tax  Code.   Abolishes  the  property
      taxpayer's  protest  fund.   Provides  for  interest on taxes
      refunded to taxpayers.  Provides that  the  county  collector
      shall pay refunds, plus the interest due  on the refunds, out
      of  funds  in  his or her possession or if the collector does
      not have any funds, then out of the first funds collected for
      the taxing district in the following taxable year.  Effective
      immediately.
                                                     LRB9003239DNsb
                                               LRB9003239DNsb
 1        AN ACT to amend the Property Tax Code by changing Section
 2    23-20 and repealing Section 20-35.
 3        Be it enacted by the People of  the  State  of  Illinois,
 4    represented in the General Assembly:
 5        Section  5.  The Property Tax Code is amended by changing
 6    Section 23-20 as follows:
 7        (35 ILCS 200/23-20)
 8        Sec. 23-20.  Effect of protested  payments;  refunds.  No
 9    protest  shall  prevent  or  be  a  cause  of  delay  in  the
10    distribution  of  tax  collections to the taxing districts of
11    any taxes collected which were not paid under  protest.   The
12    collector shall withhold from distribution the lesser of: (a)
13    the  total  amount of taxes paid under protest; (b) an amount
14    equal to the average annual tax objections sustained over the
15    preceding 5 year period; or  (c)  1/2%  of  the  total  taxes
16    collected.    Amounts  paid  under  protest  or withheld from
17    distribution shall be deposited by the collector in  interest
18    bearing  accounts  as provided in Section 20-35. If the final
19    order of the Property Tax Appeal Board or of a court  results
20    in  a  refund  to  the taxpayer, refunds shall be made by the
21    collector.  The amount of the refunds shall be  paid  out  of
22    the Protest Fund created by Section 20-35.  Interest from the
23    date  of  payment, regardless of whether the payment was made
24    before the effective date of this  amendatory  Act  of  1997,
25    under  protest  or from the date payment is due, whichever is
26    later, to the date of  refund  shall  also  be  paid  to  the
27    taxpayer  at the rate provided in Section 909 of the Illinois
28    Income Tax Act.  After the effective date of this  amendatory
29    Act of 1997, the county collector shall pay refunds, plus the
30    interest  due  on  the  refunds,  out  of funds in his or her
31    possession or if the collector does not have any funds,  then
                            -2-                LRB9003239DNsb
 1    out  of  the first funds collected for the taxing district in
 2    the following taxable year of 5%  per  year.   If  the  final
 3    order  of the Property Tax Appeal Board or of a court results
 4    in a payment to the taxing districts of all or a part of  the
 5    taxes  paid  under  protest  or withheld, any excess interest
 6    earned on the funds withheld from distribution shall be  paid
 7    into the county treasury.  If refunds ordered by the Property
 8    Tax Appeal Board or a court exceed the funds available in the
 9    Protest  Fund  provided  in  Section  20-35,  the  refunds of
10    principal and interest shall be paid out of the  first  funds
11    collected  for  the  taxing district in the following taxable
12    year.
13    (Source: P.A. 87-17; 88-455.)
14        (35 ILCS 200/20-35 rep.)
15        Section  10.   The  Property  Tax  Code  is  amended   by
16    repealing Section 20-35.
17        Section  99.  Effective date.  This Act takes effect upon
18    becoming law.

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