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92_HB3751
LRB9211360SMdv
1 AN ACT concerning taxation.
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 adding
5 Section 20-177 as follows:
6 (35 ILCS 200/20-177 new)
7 Sec. 20-177. Refunds collected by a third party for a
8 taxpayer for erroneous assessments or overpayments. When a
9 refund for an erroneous assessment or overpayment is sought
10 by a third party on behalf of a taxpayer and that third party
11 seeks compensation for obtaining the refund:
12 (1) compensation to the third party is limited to a
13 maximum of 20% of the refund;
14 (2) the third party must file with the county
15 collector, along with the application for refund, a
16 written retainer, signed by the taxpayer, conspicuously
17 disclosing the amount of the compensation to the third
18 party at a maximum of 20%;
19 (3) the third party must provide, as part of the
20 application for refund, full information as to the name
21 and address of the taxpayer so that a check for the
22 taxpayer's portion of the refund can be provided directly
23 to the taxpayer; and
24 (4) the third party must provide the county
25 collector with the appropriate Internal Revenue Service
26 forms and the county collector must annually report the
27 income paid to the third party to the Internal Revenue
28 Service and the Illinois Department of Revenue.
29 Section 99. Effective date. This Act takes effect upon
30 becoming law.