Public Act 103-0655
 
HB2232 EnrolledLRB103 25574 HLH 51923 b

    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 
refund was made, as published by the federal Bureau of Labor 
Statistics.
    A claim for a refund resulting from a final order of the 
Property Tax Appeal Board shall not be allowed unless the 
claim is filed within 20 years from the date the right to a 
refund arose; provided, however, that the aggregate total of 
refunded taxes and interest shall not exceed $5,000,000 in any 
calendar year for claims filed more than 7 years after the 
right to the refund arose. If the payment of a claim for a 
refund would cause the aggregate total of taxes and interest 
to exceed $5,000,000 in any year, the refund shall be paid in 
the next succeeding year.
    The changes made to this Section by this amendatory Act of 
the 103rd General Assembly apply to matters concerning refund 
claims filed on or after the first day of the first month 
following the effective date of this amendatory Act of the 
103rd General Assembly. 
(Source: P.A. 94-558, eff. 1-1-06.)
 
    Section 99. Effective date. This Act takes effect upon 
becoming law.

Effective Date:  7/19/2024