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91_HB3947 LRB9112074SMdv 1 AN ACT to amend the Property Tax Code is amended by 2 changing Sections 21-15, 21-20, and 21-25. 3 Be it enacted by the People of the State of Illinois, 4 represented in the General Assembly: 5 Section 5. The Property Tax Code is amended by changing 6 Sections 21-15, 21-20, and 21-25 as follows: 7 (35 ILCS 200/21-15) 8 Sec. 21-15. General tax due dates; default by mortgage 9 lender. Except as otherwise provided in this Section or 10 Section 21-40, all property upon which the first installment 11 of taxes remains unpaid on June 1 annually shall be deemed 12 delinquent and shall bear interest after June 1 at the rate 13 of 1 1/2% per month or portion thereof. Except as otherwise 14 provided in Section 21-40 and notwithstanding any other 15 provision, for taxable years 2000 and thereafter, farm 16 property assessed under Sections 10-110 through 10-140 upon 17 which the first installment of taxes remains unpaid on June 1 18 annually shall be deemed delinquent and shall bear interest 19 after June 1 at the rate of 1/2% per month or portion thereof 20 for a period of 5 years, after which time the rate of 21 interest shall be 1 1/2% per month or portion thereof. Except 22 as otherwise provided in this Section or Section 21-40, all 23 property upon which the second installment of taxes remains 24 due and unpaid on September 1, annually, shall be deemed 25 delinquent and shall bear interest after September 1 at the 26 same interest rate as the first installment. All interest 27 collected shall be paid into the general fund of the county. 28 Payment received by mail and postmarked on or before the 29 required due date is not delinquent. 30 Property not subject to the interest charge in Section 31 9-265 shall also not be subject to the interest charge -2- LRB9112074SMdv 1 imposed by this Section until such time as the owner of the 2 property receives actual notice of and is billed for the 3 principal amount of back taxes due and owing. 4 Notwithstanding any other provision of law, when any 5 unpaid taxes become delinquent under this Section through the 6 fault of the mortgage lender, (i) the interest assessed under 7 this Section for delinquent taxes shall be charged against 8 the mortgage lender and not the mortgagor and (ii) the 9 mortgage lender shall pay the taxes, redeem the property and 10 take all necessary steps to remove any liens accruing against 11 the property because of the delinquency. In the event that 12 more than one entity meets the definition of mortgage lender 13 with respect to any mortgage, the interest shall be assessed 14 against the mortgage lender responsible for servicing the 15 mortgage. Unpaid taxes shall be deemed delinquent through 16 the fault of the mortgage lender only if: (a) the mortgage 17 lender has received all payments due the mortgage lender for 18 the property being taxed under the written terms of the 19 mortgage or promissory note secured by the mortgage, (b) the 20 mortgage lender holds funds in escrow to pay the taxes, and 21 (c) the funds are sufficient to pay the taxes after deducting 22 all amounts reasonably anticipated to become due for all 23 hazard insurance premiums and mortgage insurance premiums and 24 any other assessments to be paid from the escrow under the 25 terms of the mortgage. For purposes of this Section, an 26 amount is reasonably anticipated to become due if it is 27 payable within 12 months from the time of determining the 28 sufficiency of funds held in escrow. Unpaid taxes shall not 29 be deemed delinquent through the fault of the mortgage lender 30 if the mortgage lender was directed in writing by the 31 mortgagor not to pay the property taxes, or if the failure to 32 pay the taxes when due resulted from inadequate or inaccurate 33 parcel information provided by the mortgagor, a title or 34 abstract company, or by the agency or unit of government -3- LRB9112074SMdv 1 assessing the tax. 2 (Source: P.A. 90-336, eff. 1-1-98; 90-575, eff. 3-20-98; 3 91-199, eff. 1-1-00.) 4 (35 ILCS 200/21-20) 5 Sec. 21-20. Due dates; accelerated billing in counties 6 of less than 3,000,000. Except as otherwise provided in 7 Section 21-40, in counties with less than 3,000,000 8 inhabitants in which the accelerated method of billing and 9 paying taxes provided for in Section 21-30 is in effect, the 10 estimated first installment of unpaid taxes shall be deemed 11 delinquent and shall bear interest after a date not later 12 than June 1 annually as provided for in the ordinance or 13 resolution of the county board adopting the accelerated 14 method, at the rate of 1 1/2% per month or portion thereof 15 until paid or forfeited. Except as otherwise provided in 16 Section 21-40 and notwithstanding any other provision, for 17 taxable years 2000 and thereafter, in counties with less than 18 3,000,000 inhabitants in which the accelerated method of 19 billing and paying taxes provided for in Section 21-30 is in 20 effect, the estimated first installment of unpaid taxes on 21 farm property assessed under Sections 10-110 through 10-140 22 shall be deemed delinquent and shall bear interest, after a 23 date not later than June 1 annually as provided for in the 24 ordinance or resolution of the county board adopting the 25 accelerated method, at the rate of 1/2% per month or portion 26 thereof for a period of 5 years, after which time the rate of 27 interest shall be 1 1/2% per month or portion thereof until 28 paid or forfeited. The second installment of unpaid taxes 29 shall be deemed delinquent and shall bear interest after 30 August 1 annually at the same interest rate as the first 31 installment until paid or forfeited. Payment received by 32 mail and postmarked on or before the required due date is not 33 delinquent. -4- LRB9112074SMdv 1 (Source: P.A. 91-199, eff. 1-1-00.) 2 (35 ILCS 200/21-25) 3 Sec. 21-25. Due dates; accelerated billing in counties 4 of 3,000,000 or more. Except as hereinafter provided and as 5 provided in Section 21-40, in counties with 3,000,000 or more 6 inhabitants in which the accelerated method of billing and 7 paying taxes provided for in Section 21-30 is in effect, the 8 estimated first installment of unpaid taxes shall be deemed 9 delinquent and shall bear interest after March 1 at the rate 10 of 1 1/2% per month or portion thereof until paid or 11 forfeited. Except as otherwise provided in this Section or in 12 Section 21-40 and notwithstanding any other provision, for 13 taxable years 2000 and thereafter, in counties with 3,000,000 14 or more inhabitants in which the accelerated method of 15 billing and paying taxes provided for in Section 21-30 is in 16 effect, the estimated first installment of unpaid taxes on 17 farm property assessed under Sections 10-110 through 10-140 18 shall be deemed delinquent and shall bear interest after 19 March 1 at the rate of 1/2% per month or portion thereof for 20 a period of 5 years, after which time the rate of interest 21 shall be 1 1/2% per month or portion thereof until paid or 22 forfeited. The second installment of unpaid taxes shall be 23 deemed delinquent and shall bear interest after August 1 24 annually at the same interest rate as the first installment 25 until paid or forfeited. 26 If the county board elects by ordinance adopted prior to 27 July 1 of a levy year to provide for taxes to be paid in 4 28 installments, each installment for that levy year and each 29 subsequent year shall be deemed delinquent and shall begin to 30 bear interest 30 days after the date specified by the 31 ordinance for mailing bills, at the rate of 1 1/2% per month 32 or portion thereof (or, for taxable years 2000 and 33 thereafter, for farm property assessed under Sections 10-110 -5- LRB9112074SMdv 1 through 10-140, at the rate of 1/2% per month or portion 2 thereof for a period of 5 years, after which time the rate of 3 interest shall be 1 1/2% per month or portion thereof) until 4 paid or forfeited. 5 Payment received by mail and postmarked on or before the 6 required due date is not delinquent. 7 Taxes levied on homestead property in which a member of 8 the National Guard or reserves of the armed forces of the 9 United States who was called to active duty on or after 10 August 1, 1990, and who has an ownership interest, shall not 11 be deemed delinquent and no interest shall accrue or be 12 charged as a penalty on such taxes due and payable in 1991 or 13 1992 until one year after that member returns to civilian 14 status. 15 (Source: P.A. 91-199, eff. 1-1-00.) 16 Section 99. Effective date. This Act takes effect upon 17 becoming law.