summary
Introduced
01/24/2025
01/24/2025
In Committee
06/02/2025
06/02/2025
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Property Tax Code. Provides that no interest or penalties shall be imposed with respect to property that is included in a decedent's probate estate at the time of a delinquency if the representative of the decedent's estate applies with the county treasurer for a waiver of those amounts and is granted that waiver. Provides that the waiver shall apply beginning on the date of the decedent's death until the earlier of either: (i) the date on which the property is sold, transferred, or conveyed or (ii) the date on which the estate is closed.
AI Summary
This bill amends the Property Tax Code to provide a new provision for waiving interest and penalties on property taxes for a deceased person's estate. Specifically, the bill allows the representative of a decedent's estate to apply to the county treasurer for a waiver of interest and penalties on property taxes that become delinquent after the person's death. If the waiver is granted, no interest or penalties will be imposed on the property that is part of the probate estate during the period from the date of death until either the property is sold or transferred, or the estate is officially closed. This provision aims to provide financial relief to estate representatives dealing with property tax obligations immediately following a person's death, potentially reducing the administrative and financial burden on families managing a deceased loved one's estate. The bill builds upon existing provisions in the Property Tax Code that allow for interest and penalty waivers under certain circumstances, such as for senior citizens, persons with disabilities, and brownfield site redevelopment.
Committee Categories
Budget and Finance
Sponsors (3)
Last Action
Rule 3-9(a) / Re-referred to Assignments (on 06/02/2025)
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1207&GAID=18&DocTypeID=SB&SessionID=114&GA=104 |
BillText | https://www.ilga.gov/legislation/104/SB/10400SB1207.htm |
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