95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB0027


 
Introduced 1/31/2007, by Sen. M. Maggie Crotty
 
SYNOPSIS AS INTRODUCED:
 		














35 ILCS 200/23-20










    Amends the Property Tax Code concerning the payment of refunds. Provides that, upon the request of a school district whose revenues are affected by the refund, the collector shall not,  within any single 12-month period, make refunds in excess of $100,000 due from taxes that were collected for that school district for any particular parcel if the refunds are attributable to more than one taxable year, but, instead, the collector must divide the refunds due to any final orders of the Property Tax Appeal Board or a court into at least as many 12-month periods as the number of taxable years for which the refunds are due.
















LRB095 03650 BDD 23676 b

















FISCAL NOTE ACT MAY APPLY


HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB0027

LRB095 03650 BDD 23676 b






1
    AN ACT concerning revenue.

 
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 changing 
5
Section 23-20 as follows:
 



6
    (35 ILCS 200/23-20)



7
    Sec. 23-20. Effect of protested payments; refunds. No 
8
protest shall
prevent or be a cause of delay in the 
9
distribution of
tax collections to the taxing districts of any 
10
taxes collected which were
not paid under protest.
Except as 
11
otherwise provided in this Section, if
If the final order of 
12
the Property Tax Appeal Board or of a court results
in a refund 
13
to the taxpayer, refunds shall be made by the collector from

14
funds
remaining in the Protest Fund until such funds are 
15
exhausted and
thereafter from the next funds collected after 
16
entry of the final order until
full payment of the refund and 
17
interest thereon has been made. Upon the request of a school 
18
district whose revenues are affected by the refund, the 
19
collector shall not,  within any single 12-month period, make 
20
refunds in excess of $100,000 due from taxes that were 
21
collected for that school district for any particular parcel if 
22
the refunds are attributable to more than one taxable year, 
23
but, instead, the collector must divide the refunds due to any 
 


 






SB0027
- 2 -
LRB095 03650 BDD 23676 b




1
final orders of the Property Tax Appeal Board or a court into 
2
at least as many 12-month periods as the number of taxable 
3
years for which the refunds are due.  Interest from the date of 
4
payment, regardless of whether the
payment was made before the 
5
effective date of
this
amendatory Act of 1997, or from the date 
6
payment is due,
whichever is
later, to the date of refund shall 
7
also be paid
to
the taxpayer at the annual rate of the lesser 
8
of (i) 5% or (ii) the percentage increase in the Consumer Price 
9
Index For All Urban Consumers during the 12-month calendar year 
10
preceding the levy year for which the refund was made, as 
11
published by the federal Bureau of Labor Statistics.

12
(Source: P.A. 94-558, eff. 1-1-06.)