HB4673 102ND GENERAL ASSEMBLY

LRB102 22650 RJF 31794 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB4673

Introduced 1/21/2022, by Rep. Daniel Didech

SYNOPSIS AS INTRODUCED:

30 ILCS 105/6z-113

Amends the State Finance Act. Provides that beginning in property tax year 2021 (currently, State fiscal year 2021), each county clerk shall annually certify to the Department of Revenue the total number of general homestead exemptions granted for homestead property within 30 days after the date when the collector's books are completed. Provides that by March 1 of each year, the Department of Revenue shall calculate and submit to the State Comptroller a property tax rebate amount for the applicable property tax year for the purpose of making rebates by the total number of homestead exemptions granted for homestead property in the State for the most recent tax year's available data as submitted by the county clerk. Provides further requirements concerning homestead property tax rebate eligibility and disbursement of funds. Provides exemptions concerning payments from the Property Tax Relief Fund. Modifies defined terms.

A BILL FOR

AN ACT concerning finance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Finance Act is amended by changing Section 6z-113 as follows:

(30 ILCS 105/6z-113)

Sec. 6z-113. Illinois Property Tax Relief Fund; creation.

(a) Beginning in State fiscal year 2021, the Illinois Property Tax Relief Fund is hereby created as a special fund in the State treasury. Moneys in the Fund shall be used by the State Comptroller to pay rebates to residential property taxpayers in the State as provided in this Section. The Fund may accept moneys from any lawful source.

(b) Beginning in property tax State fiscal year 2021, each county clerk shall annually certify to the Department of Revenue the total number of general homestead exemptions granted for homestead property within 30 days after the date when the collector's books are completed last day of the application period for general homestead exemptions in the county, each chief county assessment officer shall certify to the State Comptroller the total number of general homestead exemptions granted for homestead property in that county for the applicable property tax year. Subject to appropriation, by March 1 of each year, or as soon thereafter as is practical, the Department of Revenue As soon as possible after receiving certifications from each county under this subsection, the State Comptroller shall calculate and submit to the State Comptroller a property tax rebate amount for the applicable property tax year by dividing the total amount appropriated from the Illinois Property Tax Relief Fund for the purpose of making rebates under this Section by the total number of homestead exemptions granted for homestead property in the State for the most recent tax year's available data as submitted by the county clerk. The Department shall inform each respective county treasurer of each county's rebate amount. When the property tax rebate amount is greater than zero, the The county treasurer of each county shall reduce each property tax bill for homestead property by the property tax rebate amount and shall include a separate line item on each property tax bill stating the property tax rebate amount from the Illinois Property Tax Relief Fund. Only qualifying homestead properties that do not have delinquent property tax liability due will qualify for the rebate. A property must have a current property tax liability due to qualify for a rebate. The rebate is not refundable or creditable to future tax liabilities. Subject to appropriation, within Within 60 days after calculating the property tax rebate amount has been submitted to the State Comptroller, the State Comptroller shall voucher and make distributions from the Illinois Property Tax Relief Fund in an amount equal to the property tax rebate amount multiplied by the number of general homestead exemptions granted in the associated county for the applicable property tax year to each county. The amount allocated to each county shall be the property tax rebate amount multiplied by the number of general homestead exemptions granted in the county for the applicable property tax year. The county treasurer shall distribute each taxing district's share of property tax collections and distributions from the Illinois Property Tax Relief Fund to those taxing districts as provided by law.

(c) As used in this Section:

"Applicable property tax year" means the most recent tax year's available data as submitted by the county clerk tax year for which a rebate was applied to property tax bills under this Section.

"General homestead exemption" means a general homestead exemption that was granted for the property under Section 15-175 of the Property Tax Code.

"Homestead property" means property that meets both of the following criteria: (1) a general homestead exemption was granted for the property; and (2) the property tax liability for the property is current as of the date of the certification.

(d) Payments made under this Section shall be exempt from offsets pursuant to the State Comptroller Act or the Illinois State Collection Act of 1986. Payments from the Property Tax Relief Fund are not subject to Sections 7-172.1 and 9-184.5 of the Illinois Pension Code.

(Source: P.A. 101-77, eff. 7-12-19; 102-558, eff. 8-20-21.)