PROPERTY TAX RELIEF FUND

Amends the State Finance Act. Provides that beginning in property tax year 2021 (currently, State fiscal year 2021), each county clerk shall annually certify to the Department of Revenue the total number of general homestead exemptions granted for homestead property within 30 days after the date when the collector's books are completed. Provides that by March 1 of each year, the Department of Revenue shall calculate and submit to the State Comptroller a property tax rebate amount for the applicable property tax year for the purpose of making rebates by the total number of homestead exemptions granted for homestead property in the State for the most recent tax year's available data as submitted by the county clerk. Provides further requirements concerning homestead property tax rebate eligibility and disbursement of funds. Provides exemptions concerning payments from the Property Tax Relief Fund. Modifies defined terms.