Bill Text: IL HB4673 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the State Finance Act. Provides that beginning in property tax year 2021 (currently, State fiscal year 2021), each county clerk shall annually certify to the Department of Revenue the total number of general homestead exemptions granted for homestead property within 30 days after the date when the collector's books are completed. Provides that by March 1 of each year, the Department of Revenue shall calculate and submit to the State Comptroller a property tax rebate amount for the applicable property tax year for the purpose of making rebates by the total number of homestead exemptions granted for homestead property in the State for the most recent tax year's available data as submitted by the county clerk. Provides further requirements concerning homestead property tax rebate eligibility and disbursement of funds. Provides exemptions concerning payments from the Property Tax Relief Fund. Modifies defined terms.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-21 - Referred to Rules Committee [HB4673 Detail]

Download: Illinois-2021-HB4673-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 HB4673 Introduced , by Rep. Daniel Didech SYNOPSIS AS INTRODUCED:
30 ILCS 105/6z-113
Amends the State Finance Act. Provides that beginning in property tax year 2021 (currently, State fiscal year 2021), each county clerk shall annually certify to the Department of Revenue the total number of general homestead exemptions granted for homestead property within 30 days after the date when the collector's books are completed. Provides that by March 1 of each year, the Department of Revenue shall calculate and submit to the State Comptroller a property tax rebate amount for the applicable property tax year for the purpose of making rebates by the total number of homestead exemptions granted for homestead property in the State for the most recent tax year's available data as submitted by the county clerk. Provides further requirements concerning homestead property tax rebate eligibility and disbursement of funds. Provides exemptions concerning payments from the Property Tax Relief Fund. Modifies defined terms.
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A BILL FOR
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AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Finance Act is amended by changing
Section 6z-113 as follows:
(30 ILCS 105/6z-113)
Sec. 6z-113. Illinois Property Tax Relief Fund; creation.
(a) Beginning in State fiscal year 2021, the Illinois
Property Tax Relief Fund is hereby created as a special fund in
the State treasury. Moneys in the Fund shall be used by the
State Comptroller to pay rebates to residential property
taxpayers in the State as provided in this Section. The Fund
may accept moneys from any lawful source.
(b) Beginning in property tax State fiscal year 2021, each
county clerk shall annually certify to the Department of
Revenue the total number of general homestead exemptions
granted for homestead property within 30 days after the date
when the collector's books are completed last day of the
application period for general homestead exemptions in the
county, each chief county assessment officer shall certify to
the State Comptroller the total number of general homestead
exemptions granted for homestead property in that county for
the applicable property tax year. Subject to appropriation, by

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March 1 of each year, or as soon thereafter as is practical,
the Department of Revenue As soon as possible after receiving
certifications from each county under this subsection, the
State Comptroller shall calculate and submit to the State
Comptroller a property tax rebate amount for the applicable
property tax year by dividing the total amount appropriated
from the Illinois Property Tax Relief Fund for the purpose of
making rebates under this Section by the total number of
homestead exemptions granted for homestead property in the
State for the most recent tax year's available data as
submitted by the county clerk. The Department shall inform
each respective county treasurer of each county's rebate
amount. When the property tax rebate amount is greater than
zero, the The county treasurer of each county shall reduce each
property tax bill for homestead property by the property tax
rebate amount and shall include a separate line item on each
property tax bill stating the property tax rebate amount from
the Illinois Property Tax Relief Fund. Only qualifying
homestead properties that do not have delinquent property tax
liability due will qualify for the rebate. A property must
have a current property tax liability due to qualify for a
rebate. The rebate is not refundable or creditable to future
tax liabilities. Subject to appropriation, within Within 60
days after calculating the property tax rebate amount has been
submitted to the State Comptroller, the State Comptroller
shall voucher and make distributions from the Illinois

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Property Tax Relief Fund in an amount equal to the property tax
rebate amount multiplied by the number of general homestead
exemptions granted in the associated county for the applicable
property tax year to each county. The amount allocated to each
county shall be the property tax rebate amount multiplied by
the number of general homestead exemptions granted in the
county for the applicable property tax year. The county
treasurer shall distribute each taxing district's share of
property tax collections and distributions from the Illinois
Property Tax Relief Fund to those taxing districts as provided
by law.
(c) As used in this Section:
"Applicable property tax year" means the most recent tax
year's available data as submitted by the county clerk tax
year for which a rebate was applied to property tax bills under
this Section.
"General homestead exemption" means a general homestead
exemption that was granted for the property under Section
15-175 of the Property Tax Code.
"Homestead property" means property that meets both of the
following criteria: (1) a general homestead exemption was
granted for the property; and (2) the property tax liability
for the property is current as of the date of the
certification.
(d) Payments made under this Section shall be exempt from
offsets pursuant to the State Comptroller Act or the Illinois

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State Collection Act of 1986. Payments from the Property Tax
Relief Fund are not subject to Sections 7-172.1 and 9-184.5 of
the Illinois Pension Code.
(Source: P.A. 101-77, eff. 7-12-19; 102-558, eff. 8-20-21.)