Full Text of HB3030 94th General Assembly
HB3030ham001 94TH GENERAL ASSEMBLY
|
Rep. Ed Sullivan Jr.
Filed: 4/11/2005
|
|
09400HB3030ham001 |
|
LRB094 06161 DRJ 44896 a |
|
| 1 |
| AMENDMENT TO HOUSE BILL 3030
| 2 |
| AMENDMENT NO. ______. Amend House Bill 3030 by replacing | 3 |
| everything after the enacting clause with the following:
| 4 |
| "Section 5. The Senior Citizens Real Estate Tax Deferral | 5 |
| Act is amended by changing Section 3 as follows:
| 6 |
| (320 ILCS 30/3) (from Ch. 67 1/2, par. 453)
| 7 |
| Sec. 3. A taxpayer may, on or before April
March 1 of each | 8 |
| year,
apply to the county collector of the county where his | 9 |
| qualifying
property is located, or to the official designated | 10 |
| by a unit of local
government to collect special assessments on | 11 |
| the qualifying property, as the
case may be, for a deferral of | 12 |
| all or a part of real estate taxes payable
during that year for | 13 |
| the preceding year in the case of real estate taxes
other than | 14 |
| special assessments, or for a deferral of any installments | 15 |
| payable
during that year in the case of special assessments, on | 16 |
| all or part of his
qualifying property. The application shall | 17 |
| be on a form prescribed by the
Department and furnished by the | 18 |
| collector,
(a) showing that the applicant
will be 65 years of | 19 |
| age or older by June 1 of the year for which a tax
deferral is | 20 |
| claimed, (b) describing the property and verifying that the
| 21 |
| property is qualifying property as defined in Section 2, (c) | 22 |
| certifying
that the taxpayer has owned and occupied as his | 23 |
| residence such
property or other qualifying property in the | 24 |
| State for at least the last 3
years except for any periods |
|
|
|
09400HB3030ham001 |
- 2 - |
LRB094 06161 DRJ 44896 a |
|
| 1 |
| during which the taxpayer may have temporarily
resided in a | 2 |
| nursing or sheltered care home, and (d) specifying whether
the | 3 |
| deferral is for all or a part of the taxes, and, if for a part, | 4 |
| the amount
of deferral applied for. As to qualifying property | 5 |
| not having a separate
assessed valuation, the taxpayer shall | 6 |
| also file with the county collector a
written appraisal of the | 7 |
| property prepared by a qualified real estate appraiser
together | 8 |
| with a certificate signed by the appraiser stating that he has
| 9 |
| personally examined the property and setting forth the value of | 10 |
| the land and
the value of the buildings thereon occupied by the | 11 |
| taxpayer as his residence.
| 12 |
| The collector shall grant the tax deferral provided such | 13 |
| deferral does not
exceed funds available in the Senior Citizens | 14 |
| Real Estate Deferred Tax
Revolving Fund and provided that the | 15 |
| owner or owners of such real property have
entered into a tax | 16 |
| deferral and recovery agreement with the collector on behalf
of | 17 |
| the county or other unit of local government, which agreement | 18 |
| expressly
states:
| 19 |
| (1) That the total amount of taxes deferred under this Act, | 20 |
| plus
interest, for the year for which a tax deferral is claimed | 21 |
| as well
as for those previous years for which taxes are not | 22 |
| delinquent and
for which such deferral has been claimed may not | 23 |
| exceed 80%
of the taxpayer's equity interest in the property | 24 |
| for which taxes are
to be deferred and that, if the total | 25 |
| deferred taxes plus interest equals
80% of the taxpayer's | 26 |
| equity interest in the property, the taxpayer shall
thereafter | 27 |
| pay the annual interest due on such deferred taxes plus | 28 |
| interest
so that total deferred taxes plus interest will not | 29 |
| exceed such 80% of the
taxpayer's equity interest in the | 30 |
| property.
| 31 |
| (2) That any real estate taxes deferred under this Act and | 32 |
| any
interest accrued thereon at the rate of 6% per year are a | 33 |
| lien on the real
estate and improvements thereon until paid. No | 34 |
| sale or transfer of such
real property may be legally closed |
|
|
|
09400HB3030ham001 |
- 3 - |
LRB094 06161 DRJ 44896 a |
|
| 1 |
| and recorded until the taxes
which would otherwise have been | 2 |
| due on the property, plus accrued
interest, have been paid | 3 |
| unless the collector certifies in
writing that an arrangement | 4 |
| for prompt payment of the amount due
has been made with his | 5 |
| office. The same shall apply if the
property is to be made the | 6 |
| subject of a contract of sale.
| 7 |
| (3) That upon the death of the taxpayer claiming the | 8 |
| deferral
the heirs-at-law, assignees or legatees shall have | 9 |
| first
priority to the real property upon which taxes have been | 10 |
| deferred
by paying in full the total taxes which would | 11 |
| otherwise have been due,
plus interest. However, if such | 12 |
| heir-at-law, assignee, or legatee
is a surviving spouse, the | 13 |
| tax deferred status of the
property shall be continued during | 14 |
| the life of that surviving spouse
if the spouse is 55 years of | 15 |
| age or older within 6 months of the
date of death of the | 16 |
| taxpayer and enters into a tax deferral and
recovery agreement | 17 |
| before the time when deferred taxes become due
under this | 18 |
| Section. Any additional taxes deferred, plus interest,
on the | 19 |
| real property under a tax deferral and recovery agreement
| 20 |
| signed by a surviving spouse shall be added to the taxes and | 21 |
| interest
which would otherwise have been due, and the payment | 22 |
| of which has been
postponed during the life of such surviving | 23 |
| spouse, in determining
the 80% equity requirement provided by | 24 |
| this Section.
| 25 |
| (4) That if the taxes due, plus interest, are not paid by | 26 |
| the heir-at-law,
assignee or legatee or if payment is not | 27 |
| postponed during the life of a
surviving spouse, the deferred | 28 |
| taxes and interest shall be recovered from the
estate of the | 29 |
| taxpayer within one year of the date of his death. In addition,
| 30 |
| deferred real estate taxes and any interest accrued thereon are | 31 |
| due within 90
days after any tax deferred property ceases to be | 32 |
| qualifying property as
defined in Section 2.
| 33 |
| If payment is not made when required by this Section, | 34 |
| foreclosure proceedings
may be instituted under the Property |
|
|
|
09400HB3030ham001 |
- 4 - |
LRB094 06161 DRJ 44896 a |
|
| 1 |
| Tax Code.
| 2 |
| (5) That any joint owner has given written prior approval | 3 |
| for such
agreement,
which written approval shall be made a part | 4 |
| of such agreement.
| 5 |
| (6) That a guardian for a person under legal disability | 6 |
| appointed for a
taxpayer who otherwise qualifies under this Act | 7 |
| may act for the taxpayer in
complying with this Act.
| 8 |
| (7) That a taxpayer or his agent has provided to the | 9 |
| satisfaction of the
collector, sufficient evidence that the | 10 |
| qualifying property on which the taxes
are to be deferred is | 11 |
| insured against fire or casualty loss for at least the
total | 12 |
| amount of taxes which have been deferred.
| 13 |
| If the taxes to be deferred are special assessments, the | 14 |
| unit of local
government making the assessments shall forward a | 15 |
| copy of the agreement
entered into pursuant to this Section and | 16 |
| the bills for such assessments to
the county collector of the | 17 |
| county in which the qualifying property is located.
| 18 |
| (Source: P.A. 90-170, eff. 7-23-97; 91-357, eff. 7-29-99.)".
|
|