Illinois General Assembly - Full Text of Public Act 094-0558
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Public Act 094-0558




Public Act 094-0558
HB0504 Enrolled LRB094 03719 BDD 33724 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 23-20 as follows:
    (35 ILCS 200/23-20)
    Sec. 23-20. Effect of protested payments; refunds. No
protest shall prevent or be a cause of delay in the
distribution of tax collections to the taxing districts of any
taxes collected which were not paid under protest. If the final
order of the Property Tax Appeal Board or of a court results in
a refund to the taxpayer, refunds shall be made by the
collector from funds remaining in the Protest Fund until such
funds are exhausted and thereafter from the next funds
collected after entry of the final order until full payment of
the refund and interest thereon has been made. Interest from
the date of payment, regardless of whether the payment was made
before the effective date of this amendatory Act of 1997, or
from the date payment is due, whichever is later, to the date
of refund shall also be paid to the taxpayer at the annual rate
of the lesser of (i) 5% or (ii) the percentage increase in the
Consumer Price Index For All Urban Consumers during the
12-month calendar year preceding the levy year for which the
refund was made, as published by the federal Bureau of Labor
Statistics per year.
(Source: P.A. 90-556, eff. 12-12-97.)
    Section 99. Effective date. This Act takes effect on
January 1, 2006.

Effective Date: 1/1/2006