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Public Act 097-0944
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| SB3250 Enrolled | LRB097 16916 HLH 62104 b |
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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 |
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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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