IL HB0354

Amends Section 20-175 of the Property Tax Code to require county collectors in counties with populations exceeding 3,000,000 to refund erroneous or overpaid taxes within 120 days of receipt, without requiring a formal claim for refund.

Requires county collectors to send notice by certified mail within 30 days to multiple payment makers when the county collector cannot determine the proper refund recipient.

Maintains the existing 5-year limitation period for filing refund claims measured from the date the right to a refund arose.

Requires county collectors to pay taxpayers 6% annual interest on refunded taxes when a certificate of error results in allowance of a previously denied homestead exemption, with the cost deducted proportionately from distributions to affected taxing districts.

Preserves existing procedures allowing circuit court involvement when the county collector cannot determine the proper refund claimant and appeals of circuit court judgments.