HB4576 101ST GENERAL ASSEMBLY

LRB101 18423 HLH 67871 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4576

Introduced 2/5/2020, by Rep. Deanne M. Mazzochi

SYNOPSIS AS INTRODUCED:

35 ILCS 200/21-41 new

Amends the Property Tax Code. Provides that, in the case of property that is occupied as a residence by a person who: (1) is 55 years of age or older during the taxable year; (2) is liable for paying real estate taxes on the property; and (3) is an owner of record of the property or has a legal or equitable interest in the property, property taxes shall be paid on a monthly basis. Effective immediately.

FISCAL NOTE ACT MAY APPLY

HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

A BILL FOR

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 adding Section 21-41 as follows:

(35 ILCS 200/21-41 new)

Sec. 21-41. Due dates; senior citizens. Notwithstanding any other due dates provided for under this Act, beginning with the 2020 tax year payable in 2021, in the case of property that is occupied as a residence by a person who: (1) is 55 years of age or older during the taxable year; (2) is liable for paying real estate taxes on the property; and (3) is an owner of record of the property or has a legal or equitable interest in the property as evidenced by a written instrument, except for a leasehold interest that is not a leasehold interest in land on which a single family residence is located, property taxes shall be paid on a monthly basis.

The property taxes due and payable by an eligible taxpayer under this Section shall be billed monthly over a 12-month period. Those payments shall be in equal monthly installments to the extent practical. The 12-month period shall commence on the first due date for property taxes in the county in which the property is located.

No monthly payment made under the provisions of this Section shall be classified as delinquent until the expiration of 90 days after the date the monthly payment was due.

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