ESTATE TAX-INTEREST ON REFUNDS

Illinois General Assembly - Full Text of SB3543

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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,
3
represented in the General Assembly:

4

Section 5.
The Illinois Estate and Generation-Skipping
5
Transfer 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
8
distribution fund.
9

(a) Collection by county treasurers. Each county treasurer
10
shall transmit to the State Treasurer all taxes, interest or
11
penalties paid to the county treasurer under this Act and in
12
the county treasurer's possession as of the last day of the
13
previous month, together with a report under oath identifying
14
the taxpayer for or by whom an amount was paid. Those amounts
15
and the report shall be transmitted to and received by the
16
State Treasurer by the 10th day of each month. At the same
17
time, a copy of the report shall be furnished to the Attorney
18
General. The report shall be in a form and contain the
19
particulars as the State Treasurer may prescribe. The State
20
Treasurer shall give the county treasurer a receipt for the
21
amount transmitted to the State Treasurer. Except as provided
22
in subsection (a-5) of this Section, if any county treasurer
23
fails to pay to the State Treasurer all amounts that may be due

SB3543
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LRB104 17188 HLH 30607 b
1
and payable under this Act as required by this Section, the
2
county treasurer shall pay to the State Treasurer, as a
3
penalty, a sum of money equal to the interest on the amounts
4
not paid at the rate of 1% per month from the time those
5
amounts are due by the county treasurer until those amounts
6
are paid. The sureties upon the official bond of the county
7
treasurer shall be security for the payment of the penalty.
8
The penalty under this Section may be recovered in a civil
9
action against the county treasurer and his or her sureties,
10
in the name of the People of the State of Illinois, in the
11
circuit court within the county wherein the county treasurer
12
is resident; and the penalty, when recovered, shall be paid
13
into the State treasury. The civil action to recover the
14
penalty shall be brought by the State treasurer within 10 days
15
after the failure of the county treasurer to pay to the State
16
Treasurer any amounts collected by the county treasurer within
17
the time required by this Act. Failure to bring the action
18
within that time shall not prevent the bringing of the action
19
thereafter. It is the duty of the State Treasurer to make
20
necessary and proper investigation to determine what amounts
21
should be paid under this Act.
22

(a-5) The State Treasurer may waive penalties imposed by
23
subsection (a) of this Section on a case-by-case basis if the
24
State Treasurer finds that imposing penalties would be
25
unreasonable or unnecessarily burdensome because the delay in
26
payment was due to an incident caused by the operation of an

SB3543
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LRB104 17188 HLH 30607 b
1
extraordinary force, including, but not limited to, the
2
occurrence of a natural disaster, that cannot be foreseen,
3
that cannot be avoided by the exercise of due care, and for
4
which no person can be held liable.
5

(b) (Blank).
6

(c) On and after July 1, 2012, 94% of the amounts collected
7
from the taxes, interest, and penalties collected under this
8
Act shall be deposited into the General Revenue Fund and 6% of
9
those amounts shall be deposited into the Estate Tax Refund
10
Fund, a special fund created in the State treasury.
11

Moneys in the Estate Tax Refund Fund shall be expended
12
exclusively for the purpose of paying refunds resulting from
13
overpayment of tax liability under this Act, except that,
14
whenever the State Treasurer determines that any such moneys
15
in the Fund exceed the amount required for the purpose of
16
paying refunds resulting from overpayment of tax liability
17
under this Act, the State Treasurer may transfer any such
18
excess amounts from the Estate Tax Refund Fund to the General
19
Revenue Fund.
20

The Treasurer shall order payment of refunds resulting
21
from overpayment of tax liability under this Act from the
22
Estate Tax Refund Fund only to the extent that amounts have
23
been deposited and retained in the Fund.
24

Notwithstanding any other provision of law, interest shall
25
be paid upon any refund resulting from the overpayment of tax
26
under this Act at the rate set forth under subsection (a) of

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LRB104 17188 HLH 30607 b
1
Section 3-2 of the Uniform Penalty and Interest Act if the
2
overpayment is not refunded within the later of 30 days after
3
the last date prescribed for the filing of a return under this
4
Act or 30 days after the date of the overpayment.

5

Public Act 97-732 shall constitute an irrevocable and
6
continuing appropriation from the Estate Tax Refund Fund for
7
the purpose of paying refunds upon the order of the Treasurer
8
in accordance with the provisions of this Act and for the
9
purpose of paying refunds under this Act.
10
(Source: P.A. 102-278, eff. 8-6-21.)

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