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Public Act 103-0655 |
HB2232 Enrolled | LRB103 25574 HLH 51923 b |
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AN ACT concerning revenue. |
Be it enacted by the People of the State of Illinois, |
represented in the General Assembly: |
Section 5. The Property Tax Code is amended by changing |
Section 23-20 as follows: |
(35 ILCS 200/23-20) |
Sec. 23-20. Effect of protested payments; refunds. No |
protest shall prevent or be a cause of delay in the |
distribution of tax collections to the taxing districts of any |
taxes collected which were not paid under protest. If the |
final order of the Property Tax Appeal Board or of a court |
results in a refund to the taxpayer, refunds shall be made by |
the collector 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. Interest from |
the date of payment, regardless of whether the payment was |
made before the effective date of this amendatory Act of 1997, |
or from the date payment is due, whichever is later, to the |
date of refund shall also be paid to the taxpayer at the annual |
rate of the lesser of (i) 5% or (ii) the percentage increase in |
the Consumer Price Index For All Urban Consumers during the |
12-month calendar year preceding the levy year for which the |