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Public Act 097-0944


 

Public Act 0944 97TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 097-0944
 
SB3250 EnrolledLRB097 16916 HLH 62104 b

    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 21-15 as follows:
 
    (35 ILCS 200/21-15)
    Sec. 21-15. General tax due dates; default by mortgage
lender. Except as otherwise provided in this Section or Section
21-40, all property upon which the first installment of taxes
remains unpaid on the later of (i) June 1 or (ii) the day after
the date specified on the real estate tax bill as the first
installment due date annually shall be deemed delinquent and
shall bear interest after that date June 1 at the rate of 1
1/2% per month or portion thereof. Except as otherwise provided
in this Section or Section 21-40, all property upon which the
second installment of taxes remains due and unpaid on the later
of (i) September 1 or (ii) the day after the date specified on
the real estate tax bill as the second installment due date,
annually, shall be deemed delinquent and shall bear interest
after that date September 1 at the same interest rate. All
interest collected shall be paid into the general fund of the
county. Payment received by mail and postmarked on or before
the required due date is not delinquent.
    Property not subject to the interest charge in Section
9-260 or Section 9-265 shall also not be subject to the
interest charge imposed by this Section until such time as the
owner of the property receives actual notice of and is billed
for the principal amount of back taxes due and owing.
    If an Illinois resident who is a member of the Illinois
National Guard or a reserve component of the armed forces of
the United States and who has an ownership interest in property
taxed under this Act is called to active duty for deployment
outside the continental United States and is on active duty on
the due date of any installment of taxes due under this Act, he
or she shall not be deemed delinquent in the payment of the
installment and no interest shall accrue or be charged as a
penalty on the installment until 180 days after that member
returns from active duty. To be deemed not delinquent in the
payment of an installment of taxes and any interest on that
installment, the reservist or guardsperson must make a
reasonable effort to notify the county clerk and the county
collector of his or her activation to active duty and must
notify the county clerk and the county collector within 180
days after his or her deactivation and provide verification of
the date of his or her deactivation. An installment of property
taxes on the property of any reservist or guardsperson who
fails to provide timely notice and verification of deactivation
to the county clerk is subject to interest and penalties as
delinquent taxes under this Code from the date of deactivation.
    Notwithstanding any other provision of law, when any unpaid
taxes become delinquent under this Section through the fault of
the mortgage lender, (i) the interest assessed under this
Section for delinquent taxes shall be charged against the
mortgage lender and not the mortgagor and (ii) the mortgage
lender shall pay the taxes, redeem the property and take all
necessary steps to remove any liens accruing against the
property because of the delinquency. In the event that more
than one entity meets the definition of mortgage lender with
respect to any mortgage, the interest shall be assessed against
the mortgage lender responsible for servicing the mortgage.
Unpaid taxes shall be deemed delinquent through the fault of
the mortgage lender only if: (a) the mortgage lender has
received all payments due the mortgage lender for the property
being taxed under the written terms of the mortgage or
promissory note secured by the mortgage, (b) the mortgage
lender holds funds in escrow to pay the taxes, and (c) the
funds are sufficient to pay the taxes after deducting all
amounts reasonably anticipated to become due for all hazard
insurance premiums and mortgage insurance premiums and any
other assessments to be paid from the escrow under the terms of
the mortgage. For purposes of this Section, an amount is
reasonably anticipated to become due if it is payable within 12
months from the time of determining the sufficiency of funds
held in escrow. Unpaid taxes shall not be deemed delinquent
through the fault of the mortgage lender if the mortgage lender
was directed in writing by the mortgagor not to pay the
property taxes, or if the failure to pay the taxes when due
resulted from inadequate or inaccurate parcel information
provided by the mortgagor, a title or abstract company, or by
the agency or unit of government assessing the tax.
(Source: P.A. 93-560, eff. 8-20-03; 94-312, eff. 7-25-05.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/10/2012