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90_HB1118eng 35 ILCS 200/23-20 35 ILCS 200/20-35 rep. Amends the Property Tax Code. Abolishes the property taxpayer's protest fund. Provides for interest on taxes refunded to taxpayers. Provides that the county collector shall pay refunds, plus the interest due on the refunds, out of funds in his or her possession or if the collector does not have any funds, then out of the first funds collected for the taxing district in the following taxable year. Effective immediately. LRB9003239DNsb HB1118 Engrossed LRB9003239DNsb 1 AN ACT to amend the Property Tax Code by changing Section 2 23-20 and repealing Section 20-35. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Property Tax Code is amended by changing 6 Section 23-20 as follows: 7 (35 ILCS 200/23-20) 8 Sec. 23-20. Effect of protested payments; refunds. No 9 protest shall prevent or be a cause of delay in the 10 distribution of tax collections to the taxing districts of 11 any taxes collected which were not paid under protest.
The12 collector shall withhold from distribution the lesser of: (a)13 the total amount of taxes paid under protest; (b) an amount14 equal to the average annual tax objections sustained over the15 preceding 5 year period; or (c) 1/2% of the total taxes16 collected. Amounts paid under protest or withheld from17 distribution shall be deposited by the collector in interest18 bearing accounts as provided in Section 20-35.If the final 19 order of the Property Tax Appeal Board or of a court results 20 in a refund to the taxpayer, refunds shall be made by the 21 collector. The amount of the refunds shall be paid out of22 the Protest Fund created by Section 20-35.Interest from the 23 date of payment, regardless of whether the payment was made 24 before the effective date of this amendatory Act of 1997, 25 under protestor from the date payment is due, whichever is 26 later, to the date of refund shall also be paid to the 27 taxpayer at the rate of 5% per year. If the final out of28 the first funds collected for the taxing district in the29 following taxable year of 5% per year. If the final order of30 the Property Tax Appeal Board or of a court results in a31 payment to the taxing districts of all or a part of the taxesHB1118 Engrossed -2- LRB9003239DNsb 1 paid under protest or withheld, any excess interest earned on2 the funds withheld from distribution shall be paid into the3 county treasury. If refunds ordered by the Property Tax4 Appeal Board or a court exceed the funds available in the5 Protest Fund provided in Section 20-35, the refunds of6 principal and interest shall be paid out of the first funds7 collected for the taxing district in the following taxable8 year.9 (Source: P.A. 87-17; 88-455.) 10 (35 ILCS 200/20-35 rep.) 11 Section 10. The Property Tax Code is amended by 12 repealing Section 20-35. 13 Section 99. Effective date. This Act takes effect upon 14 becoming law.
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