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IL SB2854
Bill
AI Summary
- Amends Property Tax Code Section 20-175 to distinguish refund procedures between Cook County and other Illinois counties
- In counties other than Cook County, property tax refund claims must be filed within 5 years from the date the refund right arose
- In Cook County, refund claims may be filed within 20 years from the date the refund right arose, with a $2,500,000 annual cap on total refunds for claims arising before January 1, 2009
- Establishes a special filing window in Cook County from September 1, 2011 to September 1, 2012 for claims with refund rights arising between January 1, 2000 and more than 5 years prior, capped at $350,000 total
- Requires interest at 6% per year on refunds resulting from homestead exemption corrections, with costs deducted proportionately from distributions to taxing districts
Legislative Description
PROP TX-OVERPAYMENTS
Last Action
Public Act . . . . . . . . . 98-1026
8/22/2014
Committee Referrals
Revenue & Finance5/27/2014
Property Tax4/24/2014
Revenue & Finance4/23/2014
Rules4/1/2014
Revenue2/11/2014
Assignments2/4/2014
Full Bill Text
No bill text available