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92_HB4818
LRB9212006SMpk
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 Illinois Estate and Generation-Skipping
5 Transfer Tax Act is amended by changing Section 14 as
6 follows:
7 (35 ILCS 405/14) (from Ch. 120, par. 405A-14)
8 Sec. 14. Statute of limitations; claims for refund.
9 In case it appears that the amount paid with respect to
10 any taxable transfer is more than the amount due under this
11 Act, then the State Treasurer of Illinois shall refund the
12 excess to the person entitled to the refund, provided that no
13 amount shall be refunded unless application for the refund is
14 filed with the State Treasurer of Illinois no later than one
15 year after the last date allowable under the Internal Revenue
16 Code for filing a claim for refund of any part of the related
17 federal transfer tax or, if later, within one year after the
18 date of final determination of the related federal transfer
19 tax.
20 (Source: P.A. 86-737.)