SB0126 94TH GENERAL ASSEMBLY

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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB0126

Introduced 2/1/2005, by Sen. Susan Garrett

SYNOPSIS AS INTRODUCED:

35 ILCS 200/23-20

Amends the Property Tax Code. In a provision concerning refunds, provides that no interest shall be paid as to that portion of the refund attributable to the levies of any school district. Effective January 1, 2006.

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 changing Section 23-20 as follows:

(35 ILCS 200/23-20)

Sec. 23-20. Effect of protested payments; refunds. No protest shall prevent or be a cause of delay in the distribution of tax collections to the taxing districts of any taxes collected which were not paid under protest. If the final order of the Property Tax Appeal Board or of a court results in a refund to the taxpayer, refunds shall be made by the collector from funds remaining in the Protest Fund until such funds are exhausted and thereafter from the next funds collected after entry of the final order until full payment of the refund and interest thereon has been made. Interest from the date of payment, regardless of whether the payment was made before the effective date of this amendatory Act of 1997, or from the date payment is due, whichever is later, to the date of refund shall also be paid to the taxpayer at the rate of 5% per year, except that no interest shall be paid as to that portion of the refund attributable to the levies of any school district.

(Source: P.A. 90-556, eff. 12-12-97.)

Section 99. Effective date. This Act takes effect on January 1, 2006.