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IL HB5543

Bill

Official Source

Status

Introduced

2/6/2026

Primary Sponsor

Bradley Stephens

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Origin

House of Representatives

104th General Assembly

AI Summary

  • Amends the Property Tax Code to require county collectors to deposit all interest penalty payments from delinquent property taxes into a separate, dedicated fund within the county treasury
  • Requires distribution of interest penalty funds within 30 days of receipt to the county and all other taxing authorities
  • Distributions must be allocated proportionally based on each taxing body's share of the overall tax extension where the delinquency occurred
  • County collectors may notify recipients that distributed funds resulted from interest penalties collected through county enforcement of the Property Tax Code

Legislative Description

PROPERTY TAX-INTEREST PENALTY

Last Action

Referred to Rules Committee

2/13/2026

Committee Referrals

Rules2/13/2026

Full Bill Text

No bill text available