SB 3543

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Full Text of SB3543
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	SB3543 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB3543
Introduced 2/5/2026, by Sen. Chapin Rose
SYNOPSIS AS INTRODUCED:
35 ILCS 405/13	  from Ch. 120, par. 405A-13
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that interest shall be paid upon any refund resulting from the overpayment of tax under the Act at the rate set forth under the Uniform Penalty and Interest Act if the overpayment is not refunded within the later of 30 days after the last date prescribed for the filing of a return under the Act or 30 days after the date of the overpayment.
LRB104 17188 HLH 30607 b
A BILL FOR
		SB3543		LRB104 17188 HLH 30607 b
1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Estate and Generation-Skipping
5Transfer Tax Act is amended by changing Section 13 as follows:
6    (35 ILCS 405/13)  (from Ch. 120, par. 405A-13)
7    Sec. 13. Collection by county treasurers; tax collection
8distribution fund.
9    (a) Collection by county treasurers. Each county treasurer
10shall transmit to the State Treasurer all taxes, interest or
11penalties paid to the county treasurer under this Act and in
12the county treasurer's possession as of the last day of the
13previous month, together with a report under oath identifying
14the taxpayer for or by whom an amount was paid. Those amounts
15and the report shall be transmitted to and received by the
16State Treasurer by the 10th day of each month. At the same
17time, a copy of the report shall be furnished to the Attorney
18General. The report shall be in a form and contain the
19particulars as the State Treasurer may prescribe. The State
20Treasurer shall give the county treasurer a receipt for the
21amount transmitted to the State Treasurer. Except as provided
22in subsection (a-5) of this Section, if any county treasurer
23fails to pay to the State Treasurer all amounts that may be due
		SB3543	- 2 -	LRB104 17188 HLH 30607 b
1and payable under this Act as required by this Section, the
2county treasurer shall pay to the State Treasurer, as a
3penalty, a sum of money equal to the interest on the amounts
4not paid at the rate of 1% per month from the time those
5amounts are due by the county treasurer until those amounts
6are paid. The sureties upon the official bond of the county
7treasurer shall be security for the payment of the penalty.
8The penalty under this Section may be recovered in a civil
9action against the county treasurer and his or her sureties,
10in the name of the People of the State of Illinois, in the
11circuit court within the county wherein the county treasurer
12is resident; and the penalty, when recovered, shall be paid
13into the State treasury. The civil action to recover the
14penalty shall be brought by the State treasurer within 10 days
15after the failure of the county treasurer to pay to the State
16Treasurer any amounts collected by the county treasurer within
17the time required by this Act. Failure to bring the action
18within that time shall not prevent the bringing of the action
19thereafter. It is the duty of the State Treasurer to make
20necessary and proper investigation to determine what amounts
21should be paid under this Act.
22    (a-5) The State Treasurer may waive penalties imposed by
23subsection (a) of this Section on a case-by-case basis if the
24State Treasurer finds that imposing penalties would be
25unreasonable or unnecessarily burdensome because the delay in
26payment was due to an incident caused by the operation of an
		SB3543	- 3 -	LRB104 17188 HLH 30607 b
1extraordinary force, including, but not limited to, the
2occurrence of a natural disaster, that cannot be foreseen,
3that cannot be avoided by the exercise of due care, and for
4which no person can be held liable.
5    (b) (Blank).
6    (c) On and after July 1, 2012, 94% of the amounts collected
7from the taxes, interest, and penalties collected under this
8Act shall be deposited into the General Revenue Fund and 6% of
9those amounts shall be deposited into the Estate Tax Refund
10Fund, a special fund created in the State treasury.
11    Moneys in the Estate Tax Refund Fund shall be expended
12exclusively for the purpose of paying refunds resulting from
13overpayment of tax liability under this Act, except that,
14whenever the State Treasurer determines that any such moneys
15in the Fund exceed the amount required for the purpose of
16paying refunds resulting from overpayment of tax liability
17under this Act, the State Treasurer may transfer any such
18excess amounts from the Estate Tax Refund Fund to the General
19Revenue Fund.
20    The Treasurer shall order payment of refunds resulting
21from overpayment of tax liability under this Act from the
22Estate Tax Refund Fund only to the extent that amounts have
23been deposited and retained in the Fund.
24    Notwithstanding any other provision of law, interest shall 
25be paid upon any refund resulting from the overpayment of tax 
26under this Act at the rate set forth under subsection (a) of 
		SB3543	- 4 -	LRB104 17188 HLH 30607 b
1Section 3-2 of the Uniform Penalty and Interest Act if the 
2overpayment is not refunded within the later of 30 days after 
3the last date prescribed for the filing of a return under this 
4Act or 30 days after the date of the overpayment.
5    Public Act 97-732 shall constitute an irrevocable and
6continuing appropriation from the Estate Tax Refund Fund for
7the purpose of paying refunds upon the order of the Treasurer
8in accordance with the provisions of this Act and for the
9purpose of paying refunds under this Act.
10(Source: P.A. 102-278, eff. 8-6-21.)