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| 1 | AN ACT concerning revenue.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Property Tax Code is amended by changing | ||||||||||||||||||||||||||||
| 5 | Sections 20-178, 21-320, and 23-20 as follows:
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| 6 | (35 ILCS 200/20-178)
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| 7 | Sec. 20-178. Certificate of error; refund; interest. When | ||||||||||||||||||||||||||||
| 8 | the county
collector
makes any refunds
due on certificates of | ||||||||||||||||||||||||||||
| 9 | error issued under Sections 14-15 through 14-25
that have been | ||||||||||||||||||||||||||||
| 10 | either
certified or adjudicated, the county collector shall pay | ||||||||||||||||||||||||||||
| 11 | the taxpayer interest
on the amount of the refund
at the rate | ||||||||||||||||||||||||||||
| 12 | of 0.5% per month. Any interest calculated pursuant to this | ||||||||||||||||||||||||||||
| 13 | Section shall be simple interest based only on the principal | ||||||||||||||||||||||||||||
| 14 | amount of the refund.
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| 15 | No interest shall be due under this Section for any time | ||||||||||||||||||||||||||||
| 16 | prior to 60 days
after
the effective date of
this amendatory | ||||||||||||||||||||||||||||
| 17 | Act of the 91st General Assembly. For certificates of error
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| 18 | issued prior to
the
effective date of this amendatory
Act of | ||||||||||||||||||||||||||||
| 19 | the 91st General Assembly, the county collector shall
pay the | ||||||||||||||||||||||||||||
| 20 | taxpayer interest from 60 days after the effective date of this
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| 21 | amendatory Act of the 91st General Assembly
until the date the | ||||||||||||||||||||||||||||
| 22 | refund is
paid. For certificates of error issued on or after | ||||||||||||||||||||||||||||
| 23 | the effective date of this
amendatory Act of the 91st General | ||||||||||||||||||||||||||||
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| 1 | Assembly,
interest shall be paid from 60
days after the | ||||||
| 2 | certificate of error is issued by the chief county assessment
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| 3 | officer to the
date the refund is made.
To cover the cost of | ||||||
| 4 | interest, the county collector shall proportionately
reduce | ||||||
| 5 | the distribution of
taxes collected for each taxing district in | ||||||
| 6 | which the property is situated.
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| 7 | This Section shall not apply to any certificate of error | ||||||
| 8 | granting a homestead
exemption under
Section 15-170, 15-172,
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| 9 | 15-175, 15-176, or 15-177.
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| 10 | (Source: P.A. 95-644, eff. 10-12-07.)
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| 11 | (35 ILCS 200/21-320)
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| 12 | Sec. 21-320.
Refund of other taxes paid by holder of | ||||||
| 13 | certificate of
purchase.
If a sale in error under Section | ||||||
| 14 | 21-310, 22-35, or 22-50 is declared, the
amount refunded shall | ||||||
| 15 | also include other taxes paid or redeemed by the owner of
the | ||||||
| 16 | certificate
of purchase or
his or her assignor subsequent to | ||||||
| 17 | the tax sale, together with
interest on those other taxes under | ||||||
| 18 | the same terms as interest is
otherwise
payable under Section | ||||||
| 19 | 21-315. The interest under this subsection shall be
calculated | ||||||
| 20 | at the rate of 1% per month from the date the other taxes
were | ||||||
| 21 | paid and not from the date of sale. Any interest calculated | ||||||
| 22 | pursuant to this Section shall be simple interest based only on | ||||||
| 23 | the principal amount of the refund. The collector shall take | ||||||
| 24 | credit
in settlement of his or her accounts for the refund of | ||||||
| 25 | the other taxes as in
other cases of sale in error under | ||||||
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| 1 | Section 21-310.
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| 2 | (Source: P.A. 92-224, eff. 1-1-02; 92-729, eff. 7-25-02.)
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| 3 | (35 ILCS 200/23-20)
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| 4 | Sec. 23-20. Effect of protested payments; refunds. No | ||||||
| 5 | protest shall
prevent or be a cause of delay in the | ||||||
| 6 | distribution of
tax collections to the taxing districts of any | ||||||
| 7 | taxes collected which were
not paid under protest.
If the final | ||||||
| 8 | order of the Property Tax Appeal Board or of a court results
in | ||||||
| 9 | a refund to the taxpayer, refunds shall be made by the | ||||||
| 10 | collector from
funds
remaining in the Protest Fund until such | ||||||
| 11 | funds are exhausted and
thereafter from the next funds | ||||||
| 12 | collected after entry of the final order until
full payment of | ||||||
| 13 | the refund and interest thereon has been made. Interest from | ||||||
| 14 | the date of payment, regardless of whether the
payment was made | ||||||
| 15 | before the effective date of
this
amendatory Act of 1997, or | ||||||
| 16 | from the date payment is due,
whichever is
later, to the date | ||||||
| 17 | of refund shall also be paid
to
the taxpayer at the annual rate | ||||||
| 18 | of the lesser of (i) 5% or (ii) the percentage increase in the | ||||||
| 19 | Consumer Price Index For All Urban Consumers during the | ||||||
| 20 | 12-month calendar year preceding the levy year for which the | ||||||
| 21 | refund was made, as published by the federal Bureau of Labor | ||||||
| 22 | Statistics. Any interest calculated pursuant to this Section | ||||||
| 23 | shall be simple interest based only on the principal amount of | ||||||
| 24 | the refund.
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| 25 | (Source: P.A. 94-558, eff. 1-1-06.)
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| 1 | Section 99. Effective date. This Act takes effect upon | ||||||
| 2 | becoming law.
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