Bill Amendment: IL SB0039 | 2019-2020 | 101st General Assembly
NOTE: For additional amemendments please see the Bill Drafting List
Bill Title: PROP TX-POLICE AND FIRE
Status: 2019-07-12 - Public Act . . . . . . . . . 101-0077 [SB0039 Detail]
Download: Illinois-2019-SB0039-House_Amendment_002.html
Bill Title: PROP TX-POLICE AND FIRE
Status: 2019-07-12 - Public Act . . . . . . . . . 101-0077 [SB0039 Detail]
Download: Illinois-2019-SB0039-House_Amendment_002.html
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1 | AMENDMENT TO SENATE BILL 39
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2 | AMENDMENT NO. ______. Amend Senate Bill 39 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The State Finance Act is amended by adding | ||||||
5 | Sections 5.891 and 6z-107 as follows:
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6 | (30 ILCS 105/5.891 new) | ||||||
7 | Sec. 5.891. The Illinois Property Tax Relief Fund.
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8 | (30 ILCS 105/6z-107 new) | ||||||
9 | Sec. 6z-107. Illinois Property Tax Relief Fund; creation. | ||||||
10 | (a) Beginning in State fiscal year 2021, the Illinois | ||||||
11 | Property Tax Relief Fund is hereby created as a special fund in | ||||||
12 | the State treasury. Moneys in the Fund shall be used by the | ||||||
13 | State Comptroller to pay rebates to residential property | ||||||
14 | taxpayers in the State as provided in this Section. The Fund | ||||||
15 | may accept moneys from any lawful source. |
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1 | (b) Beginning in State fiscal year 2021, within 30 days | ||||||
2 | after the last day of the application period for general | ||||||
3 | homestead exemptions in the county, each chief county | ||||||
4 | assessment officer shall certify to the State Comptroller the | ||||||
5 | total number of general homestead exemptions granted for | ||||||
6 | homestead property in that county for the applicable property | ||||||
7 | tax year. As soon as possible after receiving certifications | ||||||
8 | from each county under this subsection, the State Comptroller | ||||||
9 | shall calculate a property tax rebate amount for the applicable | ||||||
10 | property tax year by dividing the total amount appropriated | ||||||
11 | from the Illinois Property Tax Relief Fund for the purpose of | ||||||
12 | making rebates under this Section by the total number of | ||||||
13 | homestead exemptions granted for homestead property in the | ||||||
14 | State. The county treasurer shall reduce each property tax bill | ||||||
15 | for homestead property by the property tax rebate amount and | ||||||
16 | shall include a separate line item on each property tax bill | ||||||
17 | stating the property tax rebate amount from the Illinois | ||||||
18 | Property Tax Relief Fund. Within 60 days after calculating the | ||||||
19 | property tax rebate amount, the State Comptroller shall make | ||||||
20 | distributions from the Illinois Property Tax Relief Fund to | ||||||
21 | each county. The amount allocated to each county shall be the | ||||||
22 | property tax rebate amount multiplied by the number of general | ||||||
23 | homestead exemptions granted in the county for the applicable | ||||||
24 | property tax year. The county treasurer shall distribute each | ||||||
25 | taxing district's share of property tax collections and | ||||||
26 | distributions from the Illinois Property Tax Relief Fund to |
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1 | those taxing districts as provided by law. | ||||||
2 | (c) As used in this Section: | ||||||
3 | "Applicable property tax year" means the tax year for which | ||||||
4 | a rebate was applied to property tax bills under this Section. | ||||||
5 | "General homestead exemption" means a general homestead | ||||||
6 | exemption that was granted for the property under Section | ||||||
7 | 15-175 of the Property Tax Code. | ||||||
8 | "Homestead property" means property that meets both of the | ||||||
9 | following criteria: (1) a general homestead exemption was | ||||||
10 | granted for the property; and (2) the property tax liability | ||||||
11 | for the property is current as of the date of the | ||||||
12 | certification.
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13 | Section 99. Effective date. This Act takes effect upon | ||||||
14 | becoming law.".
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