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90_SB1267sam001
LRB9008971KDgcam01
1 AMENDMENT TO SENATE BILL 1267
2 AMENDMENT NO. . Amend Senate Bill 1267 by replacing
3 the title with the following:
4 "AN ACT to amend the Property Tax Code by adding Section
5 20-178."; and
6 by replacing everything after the enacting clause with the
7 following:
8 "Section 5. The Property Tax Code is amended by adding
9 Section 20-178 as follows:
10 (35 ILCS 200/20-178 new)
11 Sec. 20-178. Certificate of error; refund; interest. If
12 a certificate of error is issued under Sections 14-10 through
13 14-25 of this Code and the certificate of error certifies
14 that the taxpayer is entitled to a refund for overpayment of
15 taxes, the county collector shall refund the taxes to the
16 taxpayer. The county collector shall pay the taxpayer
17 interest on the amount of the refund at the rate of 1.5% per
18 month from the date of the execution of the certificate of
19 error by the chief county assessment officer to the date the
20 refund is made. To cover the cost of interest, the county
21 collector shall proportionately reduce the distribution of
-2- LRB9008971KDgcam01
1 taxes collected for each taxing district in which the
2 property is situated.
3 Section 99. Effective date. This Act takes effect upon
4 becoming law.".