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90_HB1118
35 ILCS 200/23-20
35 ILCS 200/20-35 rep.
Amends the Property Tax Code. Abolishes the property
taxpayer's protest fund. Provides for interest on taxes
refunded to taxpayers. Provides that the county collector
shall pay refunds, plus the interest due on the refunds, out
of funds in his or her possession or if the collector does
not have any funds, then out of the first funds collected for
the taxing district in the following taxable year. Effective
immediately.
LRB9003239DNsb
LRB9003239DNsb
1 AN ACT to amend the Property Tax Code by changing Section
2 23-20 and repealing Section 20-35.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Property Tax Code is amended by changing
6 Section 23-20 as follows:
7 (35 ILCS 200/23-20)
8 Sec. 23-20. Effect of protested payments; refunds. No
9 protest shall prevent or be a cause of delay in the
10 distribution of tax collections to the taxing districts of
11 any taxes collected which were not paid under protest. The
12 collector shall withhold from distribution the lesser of: (a)
13 the total amount of taxes paid under protest; (b) an amount
14 equal to the average annual tax objections sustained over the
15 preceding 5 year period; or (c) 1/2% of the total taxes
16 collected. Amounts paid under protest or withheld from
17 distribution shall be deposited by the collector in interest
18 bearing accounts as provided in Section 20-35. If the final
19 order of the Property Tax Appeal Board or of a court results
20 in a refund to the taxpayer, refunds shall be made by the
21 collector. The amount of the refunds shall be paid out of
22 the Protest Fund created by Section 20-35. Interest from the
23 date of payment, regardless of whether the payment was made
24 before the effective date of this amendatory Act of 1997,
25 under protest or from the date payment is due, whichever is
26 later, to the date of refund shall also be paid to the
27 taxpayer at the rate provided in Section 909 of the Illinois
28 Income Tax Act. After the effective date of this amendatory
29 Act of 1997, the county collector shall pay refunds, plus the
30 interest due on the refunds, out of funds in his or her
31 possession or if the collector does not have any funds, then
-2- LRB9003239DNsb
1 out of the first funds collected for the taxing district in
2 the following taxable year of 5% per year. If the final
3 order of the Property Tax Appeal Board or of a court results
4 in a payment to the taxing districts of all or a part of the
5 taxes paid under protest or withheld, any excess interest
6 earned on the funds withheld from distribution shall be paid
7 into the county treasury. If refunds ordered by the Property
8 Tax Appeal Board or a court exceed the funds available in the
9 Protest Fund provided in Section 20-35, the refunds of
10 principal and interest shall be paid out of the first funds
11 collected for the taxing district in the following taxable
12 year.
13 (Source: P.A. 87-17; 88-455.)
14 (35 ILCS 200/20-35 rep.)
15 Section 10. The Property Tax Code is amended by
16 repealing Section 20-35.
17 Section 99. Effective date. This Act takes effect upon
18 becoming law.