35 ILCS 200/30-25
2021 Illinois Compiled Statutes|Chapter 35 - REVENUE|35 ILCS 200/ - Property Tax Code.|Title 9 - Other Provisions

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 moneys as provided in subsection (b), disbursements  shall  be made to all of the owners of taxable homestead property within the taxing  district.  Each owner of taxable homestead property shall receive a  proportionate share of the total disbursement based on the amount of ad valorem  taxes on taxable homestead property paid by the owner to the taxing district  under the most recent tax bill.(b) The corporate authorities of a taxing district may direct the  treasurer to  divide the moneys deposited into the account into 2 separate pools to be  designated the homestead property pool and the commercial or industrial  property pool. The  amount to be deposited into each pool shall be determined by the corporate  authorities of the taxing district, except that at least 50% of the moneys in  the  account shall be deposited into the homestead property pool. The treasurer  shall  disburse the amounts held in each pool in the tax reimbursement account at the  direction of the corporate authorities.  Disbursements from the homestead  property  pool shall be made to all of the owners of taxable homestead property within  the  taxing district.  Each owner of taxable homestead property shall receive a  proportionate share of the total disbursement from the pool based on the amount  of  ad valorem taxes on taxable homestead property paid by the owner to the taxing  district under the most recent tax bill.  Disbursements from the commercial or  industrial  property pool shall be made to all of the owners of taxable commercial or  industrial  property,  except those owners whose property is located within a tax increment financing  district or those owners whose property is classified as an apartment building.  Each eligible owner of taxable commercial or industrial property shall receive  a  proportionate share of the total disbursement from the pool based on the amount  of  ad valorem taxes on taxable commercial or industrial property paid by the owner  to the  taxing district under the most recent tax bill.(c) In determining the proportionate share of each owner of homestead  property, the numerator  shall  be the amount of taxes on homestead property paid by that owner to the  taxing district under the most recent tax bill, and the denominator shall  be the aggregate total of all taxes on homestead property paid by all  owners to the taxing district under the most recent tax bills.(d) In determining the proportionate share of each owner of commercial or  industrial  property, the numerator shall be the amount of taxes on commercial or  industrial property  paid by that owner to the taxing district under the most recent tax bill, and  the  denominator shall be the aggregate total of all taxes on commercial or  industrial property  paid by all owners to the taxing district under the most recent tax bills less  taxes  paid on commercial or industrial property located in a tax increment financing  district  and  taxes paid on an apartment building.    (Source: P.A. 90-471, eff. 8-17-97.)