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91_SB1684
LRB9111318SMdv
1 AN ACT to amend the Property Tax Code by changing Section
2 20-178 and adding Section 20-179.
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 20-178 and adding Section 20-179 as follows:
7 (35 ILCS 200/20-178)
8 Sec. 20-178. Certificate of error; refund; interest.
9 When the county collector makes any refunds due on
10 certificates of error issued under Sections 14-15 through
11 14-25 that have been either certified or adjudicated, the
12 county collector shall pay the taxpayer interest on the
13 amount of the refund at the rate of 0.5% per month.
14 No interest shall be due under this Section for any time
15 prior to 120 60 days after the effective date of this
16 amendatory Act of 2000 the 91st General Assembly. For
17 certificates of error issued prior to the effective date of
18 this amendatory Act of 2000 the 91st General Assembly, the
19 county collector shall pay the taxpayer interest from 120 60
20 days after the effective date of this amendatory Act of 2000
21 the 91st General Assembly until the date the refund is paid.
22 For certificates of error issued on or after the effective
23 date of this amendatory Act of 2000 the 91st General
24 Assembly, interest shall be paid from 120 60 days after the
25 submission of a completed refund application to the county
26 collector once the certificate of error is issued by the
27 chief county assessment officer the certificate of error is
28 issued by the chief county assessment officer to the date the
29 refund is made. To cover the cost of interest, the county
30 collector shall proportionately reduce the distribution of
31 taxes collected for each taxing district in which the
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1 property is situated. For purposes of this Section,
2 "completed refund application" means (i) completion of the
3 requisite forms supplied by the county treasurer and
4 presentation of legible photocopies of the payment receipt
5 issued by the county treasurer or photocopies of the front
6 and back of the negotiated instrument used to make the
7 payment for the tax year upon which a refund is sought or
8 (ii) such other proof as may be deemed necessary by the
9 county treasurer. If a petitioner cannot provide proof of
10 payment or such other proof as requested by the county
11 treasurer, the petitioner shall have available to him or her
12 the remedies afforded in Section 20-175.
13 This Section shall not apply to any certificate of error
14 granting a homestead exemption under Section 15-170, 15-172,
15 or 15-175.
16 (Source: P.A. 91-393, eff. 7-30-99.)
17 (35 ILCS 200/20-179 new)
18 Sec. 20-179. Refund reserve fund for counties of
19 3,000,000 or more. In counties with 3,000,000 or more
20 inhabitants, a sum of the current year's collections shall be
21 retained in a reserve fund to be used for payment of all
22 refunds chargeable to each taxing district. The sum
23 initially reserved must equal the amount of refunds and
24 interest paid on those refunds issued for the previous tax
25 year. The sum initially reserved from each taxing district
26 must be equal to the amount of refunds and interest that
27 taxing district was liable for in the previous tax year. The
28 reserve fund must be maintained by the county collector in an
29 interest bearing account in compliance with the Public Funds
30 Investment Act. Quarterly, all interest earned from the
31 investment of the reserve fund must be credited to each
32 taxing district's fund balance based upon that district's
33 initial percentage of contribution to the refund reserve
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1 fund. Refunds paid by the county collector must be charged
2 against the refund reserve fund first. If there are
3 insufficient funds in the refund reserve fund to pay current
4 refunds, new refunds must be paid from current collections
5 made on behalf of the taxing district. In each tax year
6 after the initial tax year, each taxing district must again
7 contribute its pro rata share of the current tax year's
8 refunds to the refund reserve fund, less any balance
9 attributable to that taxing district that remains in the
10 refund reserve fund. If, in any tax year, the funds in
11 reserve exceed the taxing district's required pro rata
12 contribution to the refund reserve fund for that tax year,
13 the county collector must distribute the excess and any
14 accrued interest on the excess to the taxing district.
15 Section 99. Effective date. This Act takes effect upon
16 becoming law.