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90_SB1267eng
35 ILCS 200/15-175
Amends the Property Tax Code. Makes a technical
correction in the Section concerning the General Homestead
Exemption.
LRB9008971KDmb
SB1267 Engrossed LRB9008971KDmb
1 AN ACT to amend the Property Tax Code by changing Section
2 20-178.
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 adding
6 Section 20-178 as follows:
7 (35 ILCS 200/20-178 new)
8 Sec. 20-178. Certificate of error; refund; interest. If
9 a certificate of error is issued under Sections 14-15 through
10 14-25 of this Code and the certificate of error certifies
11 that the taxpayer is entitled to a refund for overpayment of
12 taxes, the county collector shall refund the taxes to the
13 taxpayer. The county collector shall pay the taxpayer
14 interest on the amount of the refund at the rate of 1.5% per
15 month from the date of the execution of the certificate of
16 error by the chief county assessment officer to the date the
17 refund is made. To cover the cost of interest, the county
18 collector shall proportionately reduce the distribution of
19 taxes collected for each taxing district in which the
20 property is situated.
21 Section 99. Effective date. This Act takes effect upon
22 becoming law.