Bill Text: IL HB4245 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Amends the Senior Citizens Real Estate Tax Deferral Act. Provides that, from January 4, 2021 through March 1, 2021, taxpayers may apply for a loan up to the amount of $15,000 to pay all or a part of real estate taxes payable and due from preceding years. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee [HB4245 Detail]
Download: Illinois-2019-HB4245-Introduced.html
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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 Senior Citizens Real Estate Tax Deferral Act | ||||||||||||||||||||||||
5 | is amended by adding Section 9 as follows:
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6 | (320 ILCS 30/9 new) | ||||||||||||||||||||||||
7 | Sec. 9. Taxpayer loans. | ||||||||||||||||||||||||
8 | (a) From January 4, 2021 through March 1, 2021, subject to | ||||||||||||||||||||||||
9 | appropriation, a taxpayer may apply for a loan up to the amount | ||||||||||||||||||||||||
10 | of $15,000 to pay all or a part of real estate taxes payable | ||||||||||||||||||||||||
11 | and due from preceding years, including any interest and fees | ||||||||||||||||||||||||
12 | due. The terms of any such loan, including, but not limited to, | ||||||||||||||||||||||||
13 | provisions regarding interest, liens, and repayment, shall be | ||||||||||||||||||||||||
14 | identical to the terms required for deferral of real estate | ||||||||||||||||||||||||
15 | taxes under this Act. Eligibility for a loan under this Section | ||||||||||||||||||||||||
16 | shall be identical the eligibility requirements under Section | ||||||||||||||||||||||||
17 | 3, except that: | ||||||||||||||||||||||||
18 | (1) qualifying property may be subject to a lien for | ||||||||||||||||||||||||
19 | unpaid real estate taxes when an application under this | ||||||||||||||||||||||||
20 | Section is filed; and | ||||||||||||||||||||||||
21 | (2) the application for a loan under this Section must | ||||||||||||||||||||||||
22 | certify that the taxpayer has owned and occupied as his | ||||||||||||||||||||||||
23 | residence, such property, or other qualifying property in |
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1 | the State for at least the last 10 years immediately | ||||||
2 | preceding the date of the application, except for any | ||||||
3 | periods during which the taxpayer may have temporarily | ||||||
4 | resided in a nursing or sheltered care home. | ||||||
5 | (b) Approval for any loan under this Section is subject to | ||||||
6 | approval by the Department to ensure that sufficient funds have | ||||||
7 | been appropriated. During the period from January 4, 2021 | ||||||
8 | through March 1, 2021, at least on a weekly basis, the | ||||||
9 | Department shall report to county collectors the total number | ||||||
10 | loan applications received and the total number of loan dollars | ||||||
11 | requested. If the Department determines that the total of all | ||||||
12 | loan dollars requested under this Section are equal to or | ||||||
13 | greater than 90% or more of the total appropriated for such | ||||||
14 | loans, the Department shall inform county collectors that no | ||||||
15 | more loan applications shall be submitted or accepted. | ||||||
16 | Notwithstanding any provision of this Section to the contrary, | ||||||
17 | county collectors and the Department may reject any loan | ||||||
18 | application due to insufficient appropriations, based on rules | ||||||
19 | adopted by the Department in consultation with county | ||||||
20 | collectors.
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21 | Section 99. Effective date. This Act takes effect upon | ||||||
22 | becoming law.
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