96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 SB2125

Introduced 2/20/2009, by Sen. Louis S. Viverito

SYNOPSIS AS INTRODUCED: 35 ILCS 200/21-30

Amends the Property Tax Code. In a Section concerning property tax installments in counties with 3,000,000 or more inhabitants, provides that, beginning with taxes payable in 2010, the first installment shall be computed at 55% (instead of 50%) of the total of each tax bill for the preceding year. Effective immediately. LRB096 04176 RCE 14218 b

A BILL FOR

SB2125 LRB096 04176 RCE 14218 b 1 AN ACT concerning revenue. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Property Tax Code is amended by changing 5 Section 21-30 as follows: 6 (35 ILCS 200/21-30) 7 Sec. 21-30. Accelerated billing. Except as provided in this 8 Section, Section 9-260, and Section 21-40, in counties with 9 3,000,000 or more inhabitants, by January 31 annually, 10 estimated tax bills setting out the first installment of 11 property taxes for the preceding year, payable in that year, 12 shall be prepared and mailed. The first installment of taxes on 13 the estimated tax bills shall be computed at (i) 50% of the 14 total of each tax bill for the preceding year for taxes payable 15 on or before December 31, 2009, and (ii) 55% of the total of 16 each tax bill for the preceding year beginning with the first 17 installment payable in 2010. If, prior to the preparation of 18 the estimated tax bills, a certificate of error has been either 19 approved by a court on or before November 30 of the preceding 20 year or certified pursuant to Section 14-15 on or before 21 November 30 of the preceding year, then the first installment 22 of taxes on the estimated tax bills shall be computed at (i) 23 50% of the total taxes for the preceding year as corrected by

SB2125 - 2 - LRB096 04176 RCE 14218 b 1 the certificate of error for taxes payable on or before 2 December 31, 2009, and (ii) 55% of the total taxes for the 3 preceding year, as corrected by the certificate of error, 4 beginning with the first installment payable in 2010. By June 5 30 annually, actual tax bills shall be prepared and mailed. 6 These bills shall set out total taxes due and the amount of 7 estimated taxes billed in the first installment, and shall 8 state the balance of taxes due for that year as represented by 9 the sum derived from subtracting the amount of the first 10 installment from the total taxes due for that year. 11 The county board may provide by ordinance, in counties with 12 3,000,000 or more inhabitants, for taxes to be paid in 4 13 installments. For the levy year for which the ordinance is 14 first effective and each subsequent year, estimated tax bills 15 setting out the first, second, and third installment of taxes 16 for the preceding year, payable in that year, shall be prepared 17 and mailed not later than the date specified by ordinance. Each 18 installment on estimated tax bills shall be computed at 25% of 19 the total of each tax bill for the preceding year. By the date 20 specified in the ordinance, actual tax bills shall be prepared 21 and mailed. These bills shall set out total taxes due and the 22 amount of estimated taxes billed in the first, second, and 23 third installments and shall state the balance of taxes due for 24 that year as represented by the sum derived from subtracting 25 the amount of the estimated installments from the total taxes 26 due for that year.

SB2125 - 3 - LRB096 04176 RCE 14218 b 1 The county board of any county with less than 3,000,000 2 inhabitants may, by ordinance or resolution, adopt an 3 accelerated method of tax billing. The county board may 4 subsequently rescind the ordinance or resolution and revert to 5 the method otherwise provided for in this Code. 6 (Source: P.A. 93-560, eff. 8-20-03; 94-312, eff. 7-25-05.) 7 Section 99. Effective date. This Act takes effect upon 8 becoming law.