HB4245 101ST GENERAL ASSEMBLY

LRB101 17417 HLH 66825 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4245

Introduced 1/27/2020, by Rep. Debbie Meyers-Martin

SYNOPSIS AS INTRODUCED:

320 ILCS 30/9 new

Amends the Senior Citizens Real Estate Tax Deferral Act. Provides that, from January 4, 2021 through March 1, 2021, taxpayers may apply for a loan up to the amount of $15,000 to pay all or a part of real estate taxes payable and due from preceding years. Effective immediately.

FISCAL 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 Senior Citizens Real Estate Tax Deferral Act is amended by adding Section 9 as follows:

(320 ILCS 30/9 new)

Sec. 9. Taxpayer loans.

(a) From January 4, 2021 through March 1, 2021, subject to appropriation, a taxpayer may apply for a loan up to the amount of $15,000 to pay all or a part of real estate taxes payable and due from preceding years, including any interest and fees due. The terms of any such loan, including, but not limited to, provisions regarding interest, liens, and repayment, shall be identical to the terms required for deferral of real estate taxes under this Act. Eligibility for a loan under this Section shall be identical the eligibility requirements under Section 3, except that:

(1) qualifying property may be subject to a lien for unpaid real estate taxes when an application under this Section is filed; and

(2) the application for a loan under this Section must certify that the taxpayer has owned and occupied as his residence, such property, or other qualifying property in the State for at least the last 10 years immediately preceding the date of the application, except for any periods during which the taxpayer may have temporarily resided in a nursing or sheltered care home.

(b) Approval for any loan under this Section is subject to approval by the Department to ensure that sufficient funds have been appropriated. During the period from January 4, 2021 through March 1, 2021, at least on a weekly basis, the Department shall report to county collectors the total number loan applications received and the total number of loan dollars requested. If the Department determines that the total of all loan dollars requested under this Section are equal to or greater than 90% or more of the total appropriated for such loans, the Department shall inform county collectors that no more loan applications shall be submitted or accepted. Notwithstanding any provision of this Section to the contrary, county collectors and the Department may reject any loan application due to insufficient appropriations, based on rules adopted by the Department in consultation with county collectors.

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