Illinois General Assembly - Full Text of Public Act 094-0883
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Public Act 094-0883




Public Act 094-0883
HB4519 Enrolled LRB094 15866 BDD 51087 b

    AN ACT concerning property.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Mortgage Escrow Account Act is amended by
changing Section 15 as follows:
    (765 ILCS 910/15)
    Sec. 15. Notice of tax payments.
    (a) When any mortgage lender pays the property tax from an
escrow account, the mortgage lender must give the borrower
written notice of the following, within 45 business days after
the tax payment:
        (1) the date the taxes were paid;
        (2) the amount of taxes paid; and
        (3) the permanent index number, mortgage account
    number, address of the property, or other property
    description that is used for assessment and taxation
    purposes under the Property Tax Code.
    (b) The notice required in subsection (a) may be included
on or with other documents, notices, or statements provided to
the borrower. If more than one borrower is obligated on the
loan, only one borrower who is primarily liable on the loan
need be given notice. Notice may be delivered, mailed, or
transmitted by any usual means of communication.
    (c) Notwithstanding the requirements in subsection (a), a
mortgage lender that provides notice at least annually to a
borrower in the manner provided in subsection (b) of a means of
communication for the borrower to access the information set
forth in subsection (a) by telephone, facsimile, e-mail,
Internet access, or other means of communication, is deemed to
be in compliance with subsection (a).
(Source: P.A. 94-50, eff. 1-1-06.)

Effective Date: 1/1/2007