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| Public Act 097-0944 | ||||
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AN ACT concerning revenue.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Property Tax Code is amended by changing | ||||
Section 21-15 as follows:
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(35 ILCS 200/21-15)
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Sec. 21-15. General tax due dates; default by mortgage | ||||
lender. Except as otherwise provided in this Section or Section | ||||
21-40, all property
upon which the first installment of taxes | ||||
remains unpaid on the later of (i) June 1 or (ii) the day after | ||||
the date specified on the real estate tax bill as the first | ||||
installment due date annually
shall be deemed delinquent and | ||||
shall bear interest after that date June 1 at the rate of
1 | ||||
1/2% per month or portion thereof. Except as otherwise provided | ||||
in this
Section or Section 21-40, all property upon which the | ||||
second installment of
taxes remains due and unpaid on the later | ||||
of (i) September 1 or (ii) the day after the date specified on | ||||
the real estate tax bill as the second installment due date, | ||||
annually, shall be deemed
delinquent and shall bear interest | ||||
after that date September 1 at the same interest rate.
All | ||||
interest collected shall be paid into the general fund of the | ||||
county.
Payment received by mail and postmarked on or before | ||||
the required due date is
not delinquent.
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Property not subject to the interest charge in Section | ||
9-260 or Section
9-265 shall also not
be subject to the | ||
interest charge imposed by this Section until such time as
the | ||
owner of the property receives actual notice of and is billed | ||
for the
principal amount of back taxes due and owing.
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If an Illinois resident who is a member of the Illinois | ||
National Guard
or a reserve component of the armed forces of | ||
the United States
and who has
an ownership interest in property | ||
taxed under this Act is called to active duty
for deployment | ||
outside the continental United States
and
is on active duty on | ||
the due date of any installment of taxes due under
this Act, he | ||
or she shall not be deemed delinquent in the payment of the
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installment and no interest shall accrue or be charged as a | ||
penalty on the
installment until 180 days after that member | ||
returns from active duty. To be deemed not delinquent in the | ||
payment of an installment of taxes and any
interest
on that | ||
installment, the reservist or guardsperson must make a | ||
reasonable effort to notify the county clerk and the county | ||
collector of his or her activation to active duty and must | ||
notify the county clerk and the county collector
within 180
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days after his or her deactivation and provide verification of | ||
the date of his
or her
deactivation. An installment of property | ||
taxes on the property of any reservist
or
guardsperson who | ||
fails to provide timely notice and verification of
deactivation | ||
to the
county clerk is subject to interest and penalties as | ||
delinquent taxes under
this Code from
the date of deactivation.
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Notwithstanding any other provision of law, when any unpaid | ||
taxes become
delinquent under this Section through the fault of | ||
the mortgage lender,
(i) the
interest assessed under this | ||
Section for delinquent taxes shall be charged
against the | ||
mortgage lender and not the mortgagor and (ii) the mortgage
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lender shall pay the taxes, redeem the property and take all | ||
necessary steps to
remove any liens accruing against the | ||
property because of the delinquency.
In the event that more | ||
than
one entity meets the definition of mortgage lender with | ||
respect to any
mortgage, the interest shall be assessed against | ||
the mortgage lender
responsible for servicing the mortgage. | ||
Unpaid taxes shall be deemed
delinquent through the fault of | ||
the mortgage lender only if: (a) the
mortgage
lender has | ||
received all payments due the mortgage lender for the property | ||
being
taxed under the written terms of the mortgage or | ||
promissory note secured by
the mortgage, (b) the mortgage | ||
lender holds funds in escrow to pay the taxes,
and (c) the | ||
funds are sufficient to pay the taxes
after deducting all | ||
amounts reasonably anticipated to become due for all hazard
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insurance premiums and mortgage insurance premiums and any | ||
other assessments to
be paid from the escrow under the terms of | ||
the mortgage. For purposes of this
Section, an
amount
is | ||
reasonably anticipated to become due if it is payable within 12 | ||
months from
the time of determining the sufficiency of funds | ||
held in escrow. Unpaid taxes
shall not be deemed delinquent | ||
through the fault of the mortgage lender if the
mortgage lender | ||
was directed in writing by the mortgagor not to pay the
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property taxes, or
if the failure to pay the taxes when due | ||
resulted from inadequate or inaccurate
parcel information | ||
provided by the mortgagor, a title or abstract company, or
by | ||
the agency or unit of government assessing the tax.
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(Source: P.A. 93-560, eff. 8-20-03; 94-312, eff. 7-25-05.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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