Bill Text: IL HB0375 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. In Sections concerning interest paid on refunds due on certificates of error, sales in error, and refunds based on a final order of the Property Tax Appeal Board, provides that the interest shall be calculated as simple interest based only on the principal amount of the refund. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee [HB0375 Detail]

Download: Illinois-2009-HB0375-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB0375 Introduced 1/30/2009, by Rep. Arthur L. Turner SYNOPSIS AS INTRODUCED:
35 ILCS 200/20-178
35 ILCS 200/21-320
35 ILCS 200/23-20
Amends the Property Tax Code. In Sections concerning interest paid on refunds due on certificates of error, sales in error, and refunds based on a final order of the Property Tax Appeal Board, provides that the interest shall be calculated as simple interest based only on the principal amount of the refund. Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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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
Sections 20-178, 21-320, and 23-20 as follows:
(35 ILCS 200/20-178)
Sec. 20-178. Certificate of error; refund; interest. When
the county collector makes any refunds due on certificates of
error issued under Sections 14-15 through 14-25 that have been
either certified or adjudicated, the county collector shall pay
the taxpayer interest on the amount of the refund at the rate
of 0.5% per month. Any interest calculated pursuant to this
Section shall be simple interest based only on the principal
amount of the refund.
No interest shall be due under this Section for any time
prior to 60 days after the effective date of this amendatory
Act of the 91st General Assembly. For certificates of error
issued prior to the effective date of this amendatory Act of
the 91st General Assembly, the county collector shall pay the
taxpayer interest from 60 days after the effective date of this
amendatory Act of the 91st General Assembly until the date the
refund is paid. For certificates of error issued on or after
the effective date of this amendatory Act of the 91st General

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Assembly, interest shall be paid from 60 days after the
certificate of error is issued by the chief county assessment
officer to the date the refund is made. To cover the cost of
interest, the county collector shall proportionately reduce
the distribution of taxes collected for each taxing district in
which the property is situated.
This Section shall not apply to any certificate of error
granting a homestead exemption under Section 15-170, 15-172,
15-175, 15-176, or 15-177.
(Source: P.A. 95-644, eff. 10-12-07.)
(35 ILCS 200/21-320)
Sec. 21-320. Refund of other taxes paid by holder of
certificate of purchase. If a sale in error under Section
21-310, 22-35, or 22-50 is declared, the amount refunded shall
also include other taxes paid or redeemed by the owner of the
certificate of purchase or his or her assignor subsequent to
the tax sale, together with interest on those other taxes under
the same terms as interest is otherwise payable under Section
21-315. The interest under this subsection shall be calculated
at the rate of 1% per month from the date the other taxes were
paid and not from the date of sale. Any interest calculated
pursuant to this Section shall be simple interest based only on
the principal amount of the refund. The collector shall take
credit in settlement of his or her accounts for the refund of
the other taxes as in other cases of sale in error under

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Section 21-310.
(Source: P.A. 92-224, eff. 1-1-02; 92-729, eff. 7-25-02.)
(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. Any interest calculated pursuant to this Section
shall be simple interest based only on the principal amount of
the refund.
(Source: P.A. 94-558, eff. 1-1-06.)

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Section 99. Effective date. This Act takes effect upon
becoming law.