IL HB5094

Amends the Property Tax Code to change how performance-based compensation for assessors is paid, starting with State fiscal years beginning July 1, 2022.

Directs the Department of Revenue to remit assessor performance-based compensation funds to appropriate townships, which will then pay the $3,000 annual compensation to assessors from those funds.

Designates townships as the assessor's employer for payroll purposes regarding this additional compensation, including responsibility for State and federal income tax reporting, withholding, and employer contributions under the Illinois Pension Code.

Maintains existing eligibility criteria for assessors in counties with 50,000-3,000,000 inhabitants and counties with 50,000 or fewer inhabitants to receive the additional compensation based on assessment performance standards.

Takes effect immediately upon becoming law.