Bill Text: IL HB5140 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Amends the Property Tax Code. Makes a technical change in a Section concerning issuance of a tax bill.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-02-09 - Referred to Rules Committee [HB5140 Detail]
Download: Illinois-2023-HB5140-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, | |||||||||||||||||||
3 | represented in the General Assembly:
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4 | Section 5. The Property Tax Code is amended by changing | |||||||||||||||||||
5 | Section 21-45 as follows:
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6 | (35 ILCS 200/21-45) | |||||||||||||||||||
7 | Sec. 21-45. Failure to issue tax bill in prior year. In the | |||||||||||||||||||
8 | the event no tax bill was issued as provided in Section 21-30, | |||||||||||||||||||
9 | on any property in any previous year for any reason, one tax | |||||||||||||||||||
10 | bill shall be prepared and mailed by July 1 of the year | |||||||||||||||||||
11 | subsequent to the year in which no tax bill was issued, and | |||||||||||||||||||
12 | taxes on that property for that year only shall bear interest | |||||||||||||||||||
13 | after the first day of August of that year. In counties with | |||||||||||||||||||
14 | fewer than 3,000,000 inhabitants, interest shall accrue at the | |||||||||||||||||||
15 | rate of 1 1/2% per month or portion thereof until paid or | |||||||||||||||||||
16 | forfeited. In counties with 3,000,000 or more inhabitants, if | |||||||||||||||||||
17 | the taxes are for a tax year before tax year 2023, then | |||||||||||||||||||
18 | interest shall accrue at the rate of 1.5% per month, or portion | |||||||||||||||||||
19 | thereof, until paid or forfeited. In counties with 3,000,000 | |||||||||||||||||||
20 | or more inhabitants, if the taxes are for the 2023 tax year or | |||||||||||||||||||
21 | any tax year thereafter, then interest shall accrue at the | |||||||||||||||||||
22 | rate of 0.75% per month, or portion thereof, until paid or | |||||||||||||||||||
23 | forfeited. |
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