PROP TAX-PROTEST FUND
Synopsis of Bill as introduced:
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.
HOUSE AMENDMENT NO. 1.
Removes the provision that stated that the county collector shall
pay refunds and the interest due on the refunds out of funds in his or
her possession or out of the first funds collected for the taxing
district in the following taxable year. Provides that interest shall
be paid at the rate of 5% per year.
STATE MANDATES FISCAL NOTE
HB1118, with H-am 1, creates a due process mandate for which no
State reimbursement is required.
SENATE AMENDMENT NO. 1. (Senate recedes May 22, 1997)
Adds reference to:
35 ILCS 200/21-260
Amends the Property Tax Code. Provides that mineral rights
offered for sale at a scavenger tax sale and not sold or confirmed
after being offered for sale for 10 consecutive years shall revert to
the surface owner. Requires the county treasurer to deliver a notice
of the reversion to the party in whose name the taxes on the mineral
rights are last assessed. Provides that the Department shall
prescribe forms or provide suitable forms for the notification.
GOVERNOR'S AMENDATORY VETO MESSAGE
Deletes reference to:
35 ILCS 200/20-35 rep.
Adds reference to:
35 ILCS 200/20-35
Recommends that the Section concerning investments by the county
collector not be repealed but rather provides that for purposes of
that Section, after the effective date of this amendatory Act no
additional funds shall be deposited into a Protest Fund, other than
interest on investments of funds that were deposited into a Protest
Fund prior to this amendatory Act. Provides that refunds from pro-
tested payments shall be paid from funds remaining in the Protest
Fund until such funds are exhausted and thereafter from the next
funds collected after entry of the final order until full payment
of the refund and interest thereon has been made.
Last action on Bill: PUBLIC ACT.............................. 90-0556
Last action date: 97-12-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1
END OF INQUIRY
Full Text Bill Status