Units of local government must provide, by ordinance, for the amount of interest, if any, to be assessed on a late payment, underpayment, or nonpayment of tax.
50 ILCS 45/45
Interest
Known as the Local Government Taxpayers' Bill of Rights Act
The act spans §§ 50-45-1 to 50-45-99 (20 sections).
P.A. 91-920, eff. 1-1-01.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.