Summary as Introduced
Amends the Property Tax Code. Provides that a claim for a refund resulting from a final order of the Property Tax Appeal Board shall not be allowed unless the claim is filed within 20 years after the date the right to a refund arose. Provides that the aggregate total of refunded taxes and interest shall not exceed $5,000,000 in any calendar year for claims filed more than 7 years after the right to the refund arose. Effective immediately.
Staff Analysis
Amends the Property Tax Code. Provides that the notice of the transfer of property that is exempt for orphanage, school, or religious purposes shall be filed with the county clerk (currently, the county recorder).