IllinoisHB5543104th General Assembly (2025–2026)House

PROPERTY TAX-INTEREST PENALTY

Sponsored By: Brad Stephens (Republican)

In Committee

Summary

Amends the Property Tax Code. Provides that, notwithstanding any other law, if an interest penalty for the delinquent payment of taxes is imposed and if collections of interest penalties are enjoyed by a county pursuant to that procedure, then the country collector shall place all of the proceeds from interest penalty payments collected thereby into a separate and distinct fund created within the country treasury for the delineation and distribution of interest penalties paid on property taxes that are past due as of the time payment is made. Further provides all moneys in the interest penalty fund created by each county under this provision shall, within 30 days of receipt by the county, be divided and distributed to (i) the county of record and (ii) all other proper authorities or persons, on the basis of proportionate share of the overall tax extension within which individual taxpayer delinquency and payment of interest penalties took place. Provides that, when making this distribution to a proper authority or person, the county collector may include a notification that the moneys so distributed are the result of interest penalties charged by the county as part of the overall enforcement by the county of the Code.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Brad Stephens

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  2. Assigned to Revenue & Finance Committee

    3/18/2026House
  3. Referred to Rules Committee

    2/13/2026House
  4. First Reading

    2/13/2026House
  5. Filed with the Clerk by Rep. Brad Stephens

    2/6/2026House

Bill Text

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