Chapter 35, REVENUE

(35 ILCS 200/30-10) Sec. 30-10. Special reserve fund. The governing body of any taxing district may, by ordinance or resolution, establish a special reserve fund for the purpose of accumulating monies to pay refunds of erroneously or illegally collected taxes. A taxing district e…

(35 ILCS 200/30-15) Sec. 30-15. Effect of fund on levies. A tax levy of a taxing district shall not be deemed invalid for the sole reason that the taxing district has accumulated monies in a special reserve fund pursuant to this Article. (Source: P.A. 84-205; 88-455.)

(35 ILCS 200/30-20) Sec. 30-20. Tax reimbursement account. If the corporate authorities of a taxing district determine that the taxing district has on hand surplus funds from any source, then the corporate authorities may transfer those surplus funds into a tax reimbursement acco…

(35 ILCS 200/30-25) Sec. 30-25. Distributions from account. (a) At the direction of the corporate authorities of a taxing district, the treasurer of the taxing district shall disburse the amounts held in the tax reimbursement account. Unless the taxing district has divided the mo…

(35 ILCS 200/30-30) Sec. 30-30. Fiscal Responsibility Report Card. The corporate authority of each taxing district, other than a school district, that imposes ad valorem taxes, within 180 days of the conclusion of the fiscal year of the taxing district, shall submit to the State …

(35 ILCS 200/30-31) Sec. 30-31. Fiscal Responsibility Report Card; State Comptroller. The State Comptroller, within 180 days of the conclusion of the fiscal year of the State, shall make available on the Comptroller's website a Fiscal Responsibility Report Card in the form prescr…

(35 ILCS 200/30-5) Sec. 30-5. Definition. As used in this Article, "taxing district" has the meaning stated in Section 1-150. (Source: P.A. 84-205; 88-455.)

(35 ILCS 200/31-1) Sec. 31-1. Short title. This Article may be cited as the Real Estate Transfer Tax Law. (Source: Laws 1967, p. 1716; P.A. 88-455.)

(35 ILCS 200/31-10) Sec. 31-10. Imposition of tax. A tax is imposed on the privilege of transferring title to real estate located in Illinois, on the privilege of transferring a beneficial interest in real property located in Illinois, and on the privilege of transferring a contr…

(35 ILCS 200/31-15) Sec. 31-15. Collection of tax. (a) Paper revenue stamps. The tax shall be collected by the recorder or registrar of titles of the county in which the property is situated through the sale of revenue stamps, the design, denominations and form of which shall be …

(35 ILCS 200/31-20) Sec. 31-20. Affixing of stamps. Payment of the tax shall be evidenced by revenue stamps in the amount required to show full payment of the tax imposed by Section 31-10. Except as provided in Section 31-45, a deed, document transferring a controlling interest i…

(35 ILCS 200/31-25) Sec. 31-25. Transfer declaration. At the time a deed, a document transferring a controlling interest in real property, or trust document is presented for recordation, or within 3 business days after the transfer is effected, whichever is earlier, there shall a…

(35 ILCS 200/31-30) Sec. 31-30. Use of transfer declaration. The recorder or registrar of titles shall not record the declaration, but shall insert on the declaration and all attachments the Document Number assigned to the deed or trust document, and shall within 30 days of recei…

(35 ILCS 200/31-35) Sec. 31-35. Deposit of tax revenue. (a) Beginning on June 6, 2002 (the effective date of Public Act 92-536) and through June 30, 2003, of the moneys collected under Section 31-15, 50% shall be deposited into the Illinois Affordable Housing Trust Fund, 20% into…

(35 ILCS 200/31-40) Sec. 31-40. Real estate in civil townships. If the real estate described in the deed is located in a civil township, the recorder or registrar of titles shall transmit a copy of the declaration to the township or multi-township assessor for that township. This…

(35 ILCS 200/31-45) Sec. 31-45. Exemptions. The following deeds or trust documents shall be exempt from the provisions of this Article except as provided in this Section: (a) Deeds representing real estate transfers made before January 1, 1968, but recorded after that date and tr…

(35 ILCS 200/31-46) Sec. 31-46. Exemption from tax equal to corporate franchise taxes paid. If a transfer of a controlling interest in a real estate entity is taxed under this Article and the real estate entity liable for the tax under this Article is also liable for corporate fr…

(35 ILCS 200/31-47) Sec. 31-47. Verification. In all counties, each transfer declaration filed under this Law shall include a written statement by both the grantor or grantor's agent and the grantee or grantee's agent that the information contained in the declaration is true and …

(35 ILCS 200/31-5) Sec. 31-5. Definitions. As used in this Article: "Affixed" means physically or electronically indicated. "Recordation" includes the issuance of certificates of title by Registrars of Title under the Registered Titles (Torrens) Act pursuant to the filing of deed…

(35 ILCS 200/31-50) Sec. 31-50. Penalties. Any person who willfully falsifies the value of transferred real estate on the transfer declaration required by Section 31-25 or who willfully falsifies or willfully omits any other information required by Section 31-25 or who willfully …

(35 ILCS 200/31-55) Sec. 31-55. Public records. Transfer declarations under this Article are public records and shall be made available for inspection, upon request, during regular business hours. (Source: P.A. 87-543; 88-455.)

(35 ILCS 200/31-60) Sec. 31-60. Check for violations. The Department shall conduct spot checks or investigations of declarations required to be filed by this Article and may forward information of violations to the State's Attorney of the county where the violations occur for pro…

(35 ILCS 200/31-65) Sec. 31-65. Additional tax. The tax imposed by Section 31-10 is in addition to all other occupation or privilege taxes imposed by the State of Illinois or by any municipal corporation or political subdivision. (Source: Laws 1967, p. 1716; P.A. 88-455.)

(35 ILCS 200/31-70) Sec. 31-70. Rules. The Department may prescribe reasonable rules for the administration of this Article, including rules permitting a transfer declaration in a prescribed electronic form and permitting the electronic transmission of the transfer declaration us…

(35 ILCS 200/32-1) Sec. 32-1. Prior law. (a) A provision of this Code that is the same as a prior law shall be construed as a continuation of the prior law and not as a new or different law. (b) A citation in another Act to an Act or to a Section of an Act that is continued in th…

(35 ILCS 200/32-10) Sec. 32-10. Home rule; mandates. Nothing in this Code as initially enacted (i) is a denial or limitation on home rule powers where no denial or limitation existed under prior law or (ii) creates a State mandate under the State Mandates Act where no mandate exi…

(35 ILCS 200/32-15) Sec. 32-15. Titles; articles; captions. The language contained in the Titles, Articles, Captions, and Section and subsection headings in this Code: (a) is intended only as a general description that is not a part of the substantive provisions of this Code; (b)…

(35 ILCS 200/32-17) Sec. 32-17. Severability. The provisions of this amendatory Act of 1995 are severable under Section 1.31 of the Statute on Statutes. (Source: P.A. 89-126, eff. 7-11-95.)

(35 ILCS 200/32-20) Sec. 32-20. Statutes repealed. The following Acts are repealed: The Local Tax Reimbursement Act. The Special Assessment Apportionment Act. The Revenue Act of 1939. The Truth in Taxation Act. The Uncollectable Tax Act. The Real Property Improvement Assessment A…

(35 ILCS 200/32-5) Sec. 32-5. Other Acts of the 88th General Assembly. If any other Act of the 88th General Assembly changes, adds, or repeals a provision of prior law that is continued in this Code, than that change, addition, or repeal in the other Act shall be construed togeth…

(35 ILCS 20/35-1) Sec. 35-1. Short title. This Article may be cited as the Tax Shelter Voluntary Compliance Law, and references in this Article to "this Law" mean this Article. (Source: P.A. 93-840, eff. 7-30-04.)

(35 ILCS 20/35-10) Sec. 35-10. "Tax avoidance transaction" defined. For purposes of this Law, the term "tax avoidance transaction" means a plan or arrangement devised for the principal purpose of avoiding federal income tax. Tax avoidance transactions include, but are not limited…

(35 ILCS 525/35-10) Sec. 35-10. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-10) Sec. 35-10. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-100) Sec. 35-100. The Illinois Horse Racing Act of 1975 is amended by repealing Sections 2.1 and 54. (Source: P.A. 101-31, eff. 6-28-19.)

(35 ILCS 525/35-100) Sec. 35-100. The Illinois Horse Racing Act of 1975 is amended by repealing Sections 2.1 and 54. (Source: P.A. 101-31, eff. 6-28-19.)

(35 ILCS 525/35-15) Sec. 35-15. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-15) Sec. 35-15. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 20/35-15) Sec. 35-15. Use of evidence of participation in the program. The fact of a taxpayer's participation in the tax shelter voluntary compliance program shall not be considered evidence that the taxpayer in fact engaged in a tax avoidance transaction. (Source: P.A. …

(35 ILCS 525/35-20) Sec. 35-20. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-20) Sec. 35-20. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 525/35-25) Sec. 35-25. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-25) Sec. 35-25. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 525/35-3) Sec. 35-3. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-3) Sec. 35-3. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 525/35-30) Sec. 35-30. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-30) Sec. 35-30. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 525/35-35) Sec. 35-35. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 185/35-35) Sec. 35-35. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)

(35 ILCS 525/35-40) Sec. 35-40. (Amendatory provisions; text omitted). (Source: P.A. 101-31, eff. 6-28-19; text omitted.)