Bill Text: IL HB2322 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Makes a technical change in a Section concerning the collection of tax.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB2322 Detail]

Download: Illinois-2017-HB2322-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 HB2322 Introduced , by Rep. Jim Durkin SYNOPSIS AS INTRODUCED:
35 ILCS 200/31-15
Amends the Property Tax Code. Makes a technical change in a Section concerning the collection of tax.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by changing
Section 31-15 as follows:
(35 ILCS 200/31-15)
Sec. 31-15. Collection of tax.
(a) Paper revenue stamps. The The tax shall be collected by
the recorder or registrar of titles of the county in which the
property is situated through the sale of revenue stamps, the
design, denominations and form of which shall be prescribed by
the Department. The revenue stamps shall be sold by the
Department to the recorder or registrar of titles who shall
cause them to be sold for the purposes prescribed. The
Department shall charge at a rate of 50¢ per $500 of value in
units of not less than $500. The recorder or registrar of
titles of the several counties shall sell the revenue stamps at
a rate of 50¢ per $500 of value or fraction of $500. The
recorder or registrar of titles may use the proceeds for the
purchase of revenue stamps from the Department. The Department
must establish a system to allow the recorder or registrar of
titles to purchase the revenue stamps electronically and must
deliver the electronically purchased stamps to the recorder or

HB2322 - 2 - LRB100 04001 HLH 14006 b
registrar of titles.
(b) Electronic revenue stamp or alternative indicia. If the
recorder or registrar of titles uses an electronic revenue
stamp or alternative indicia, the recorder or registrar of
titles shall electronically file a return and electronically
remit the tax to the Department on or before the 10th day of
the month following the month in which the tax was required to
be collected. The return shall disclose the tax collected and
other information that the Department may reasonably require.
The return shall be filed using a format prescribed by the
Department.
If a return is not filed or the tax is not fully paid as
required under this Section within 15 days of the required time
period, the Department may eliminate the recorder or registrar
of titles' ability to electronically file its returns and
electronically remit the tax until such time as the recorder or
registrar of titles fully remits the return and tax amount due.
(Source: P.A. 98-929, eff. 8-15-14.)