House Sponsors: MOFFITT-NOVAK-CURRY,JULIE-SKINNER. Senate Sponsors: PETERSON Short description: PROP TAX-PROTEST FUND Synopsis of Bill as introduced: 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. HOUSE AMENDMENT NO. 1. Removes the provision that stated that the county collector shall pay refunds and the interest due on the refunds out of funds in his or her possession or out of the first funds collected for the taxing district in the following taxable year. Provides that interest shall be paid at the rate of 5% per year. STATE MANDATES FISCAL NOTE HB1118, with H-am 1, creates a due process mandate for which no State reimbursement is required. SENATE AMENDMENT NO. 1. (Senate recedes May 22, 1997) Adds reference to: 35 ILCS 200/21-260 Amends the Property Tax Code. Provides that mineral rights offered for sale at a scavenger tax sale and not sold or confirmed after being offered for sale for 10 consecutive years shall revert to the surface owner. Requires the county treasurer to deliver a notice of the reversion to the party in whose name the taxes on the mineral rights are last assessed. Provides that the Department shall prescribe forms or provide suitable forms for the notification. Effective immediately. GOVERNOR'S AMENDATORY VETO MESSAGE Deletes reference to: 35 ILCS 200/20-35 rep. Adds reference to: 35 ILCS 200/20-35 Recommends that the Section concerning investments by the county collector not be repealed but rather provides that for purposes of that Section, after the effective date of this amendatory Act no additional funds shall be deposited into a Protest Fund, other than interest on investments of funds that were deposited into a Protest Fund prior to this amendatory Act. Provides that refunds from pro- tested payments shall be paid 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. Last action on Bill: PUBLIC ACT.............................. 90-0556 Last action date: 97-12-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 1 END OF INQUIRY Full Text Bill Status