[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Enrolled ] | [ House Amendment 001 ] |
| [ Senate Amendment 001 ] |
91_SB1453eng SB1453 Engrossed LRB9111084SMdv 1 AN ACT concerning taxation, amending named Acts. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Use Tax Act is amended by changing 5 Section 9 as follows: 6 (35 ILCS 105/9) (from Ch. 120, par. 439.9) 7 Sec. 9. Except as to motor vehicles, watercraft, 8 aircraft,and trailers that are required to be registered 9 with an agency of this State, each retailer required or 10 authorized to collect the tax imposed by this Act shall pay 11 to the Department the amount of such tax (except as otherwise 12 provided) at the time when he is required to file his return 13 for the period during which such tax was collected, less a 14 discount of 2.1% prior to January 1, 1990, and 1.75% on and 15 after January 1, 1990, or $5 per calendar year, whichever is 16 greater, which is allowed to reimburse the retailer for 17 expenses incurred in collecting the tax, keeping records, 18 preparing and filing returns, remitting the tax and supplying 19 data to the Department on request. In the case of retailers 20 who report and pay the tax on a transaction by transaction 21 basis, as provided in this Section, such discount shall be 22 taken with each such tax remittance instead of when such 23 retailer files his periodic return. A retailer need not 24 remit that part of any tax collected by him to the extent 25 that he is required to remit and does remit the tax imposed 26 by the Retailers' Occupation Tax Act, with respect to the 27 sale of the same property. 28 Where such tangible personal property is sold under a 29 conditional sales contract, or under any other form of sale 30 wherein the payment of the principal sum, or a part thereof, 31 is extended beyond the close of the period for which the 32 return is filed, the retailer, in collecting the tax (except SB1453 Engrossed -2- LRB9111084SMdv 1 as to motor vehicles, watercraft, aircraft, and trailers that 2 are required to be registered with an agency of this State), 3 may collect for each tax return period, only the tax 4 applicable to that part of the selling price actually 5 received during such tax return period. 6 Except as provided in this Section, on or before the 7 twentieth day of each calendar month, such retailer shall 8 file a return for the preceding calendar month. Such return 9 shall be filed on forms prescribed by the Department and 10 shall furnish such information as the Department may 11 reasonably require. 12 The Department may require returns to be filed on a 13 quarterly basis. If so required, a return for each calendar 14 quarter shall be filed on or before the twentieth day of the 15 calendar month following the end of such calendar quarter. 16 The taxpayer shall also file a return with the Department for 17 each of the first two months of each calendar quarter, on or 18 before the twentieth day of the following calendar month, 19 stating: 20 1. The name of the seller; 21 2. The address of the principal place of business 22 from which he engages in the business of selling tangible 23 personal property at retail in this State; 24 3. The total amount of taxable receipts received by 25 him during the preceding calendar month from sales of 26 tangible personal property by him during such preceding 27 calendar month, including receipts from charge and time 28 sales, but less all deductions allowed by law; 29 4. The amount of credit provided in Section 2d of 30 this Act; 31 5. The amount of tax due; 32 5-5. The signature of the taxpayer; and 33 6. Such other reasonable information as the 34 Department may require. SB1453 Engrossed -3- LRB9111084SMdv 1 If a taxpayer fails to sign a return within 30 days after 2 the proper notice and demand for signature by the Department, 3 the return shall be considered valid and any amount shown to 4 be due on the return shall be deemed assessed. 5 Beginning October 1, 1993, a taxpayer who has an average 6 monthly tax liability of $150,000 or more shall make all 7 payments required by rules of the Department by electronic 8 funds transfer. Beginning October 1, 1994, a taxpayer who has 9 an average monthly tax liability of $100,000 or more shall 10 make all payments required by rules of the Department by 11 electronic funds transfer. Beginning October 1, 1995, a 12 taxpayer who has an average monthly tax liability of $50,000 13 or more shall make all payments required by rules of the 14 Department by electronic funds transfer. Beginning October 1, 15 2000, a taxpayer who has an annual tax liability of $200,000 16 or more shall make all payments required by rules of the 17 Department by electronic funds transfer. The term "annual 18 tax liability" shall be the sum of the taxpayer's liabilities 19 under this Act, and under all other State and local 20 occupation and use tax laws administered by the Department, 21 for the immediately preceding calendar year. The term 22 "average monthly tax liability" means the sum of the 23 taxpayer's liabilities under this Act, and under all other 24 State and local occupation and use tax laws administered by 25 the Department, for the immediately preceding calendar year 26 divided by 12. 27 Before August 1 of each year beginning in 1993, the 28 Department shall notify all taxpayers required to make 29 payments by electronic funds transfer. All taxpayers required 30 to make payments by electronic funds transfer shall make 31 those payments for a minimum of one year beginning on October 32 1. 33 Any taxpayer not required to make payments by electronic 34 funds transfer may make payments by electronic funds transfer SB1453 Engrossed -4- LRB9111084SMdv 1 with the permission of the Department. 2 All taxpayers required to make payment by electronic 3 funds transfer and any taxpayers authorized to voluntarily 4 make payments by electronic funds transfer shall make those 5 payments in the manner authorized by the Department. 6 The Department shall adopt such rules as are necessary to 7 effectuate a program of electronic funds transfer and the 8 requirements of this Section. 9 Before October 1, 2000, if the taxpayer's average monthly 10 tax liability to the Department under this Act, the 11 Retailers' Occupation Tax Act, the Service Occupation Tax 12 Act, the Service Use Tax Act was $10,000 or more during the 13 preceding 4 complete calendar quarters, he shall file a 14 return with the Department each month by the 20th day of the 15 month next following the month during which such tax 16 liability is incurred and shall make payments to the 17 Department on or before the 7th, 15th, 22nd and last day of 18 the month during which such liability is incurred. On and 19 after October 1, 2000, if the taxpayer's average monthly tax 20 liability to the Department under this Act, the Retailers' 21 Occupation Tax Act, the Service Occupation Tax Act, and the 22 Service Use Tax Act was $20,000 or more during the preceding 23 4 complete calendar quarters, he shall file a return with the 24 Department each month by the 20th day of the month next 25 following the month during which such tax liability is 26 incurred and shall make payment to the Department on or 27 before the 7th, 15th, 22nd and last day oforthe month 28 during which such liability is incurred. If the month during 29 which such tax liability is incurred began prior to January 30 1, 1985, each payment shall be in an amount equal to 1/4 of 31 the taxpayer's actual liability for the month or an amount 32 set by the Department not to exceed 1/4 of the average 33 monthly liability of the taxpayer to the Department for the 34 preceding 4 complete calendar quarters (excluding the month SB1453 Engrossed -5- LRB9111084SMdv 1 of highest liability and the month of lowest liability in 2 such 4 quarter period). If the month during which such tax 3 liability is incurred begins on or after January 1, 1985, and 4 prior to January 1, 1987, each payment shall be in an amount 5 equal to 22.5% of the taxpayer's actual liability for the 6 month or 27.5% of the taxpayer's liability for the same 7 calendar month of the preceding year. If the month during 8 which such tax liability is incurred begins on or after 9 January 1, 1987, and prior to January 1, 1988, each payment 10 shall be in an amount equal to 22.5% of the taxpayer's actual 11 liability for the month or 26.25% of the taxpayer's liability 12 for the same calendar month of the preceding year. If the 13 month during which such tax liability is incurred begins on 14 or after January 1, 1988, and prior to January 1, 1989, or 15 begins on or after January 1, 1996, each payment shall be in 16 an amount equal to 22.5% of the taxpayer's actual liability 17 for the month or 25% of the taxpayer's liability for the same 18 calendar month of the preceding year. If the month during 19 which such tax liability is incurred begins on or after 20 January 1, 1989, and prior to January 1, 1996, each payment 21 shall be in an amount equal to 22.5% of the taxpayer's actual 22 liability for the month or 25% of the taxpayer's liability 23 for the same calendar month of the preceding year or 100% of 24 the taxpayer's actual liability for the quarter monthly 25 reporting period. The amount of such quarter monthly 26 payments shall be credited against the final tax liability of 27 the taxpayer's return for that month. Before October 1, 28 2000, once applicable, the requirement of the making of 29 quarter monthly payments to the Department shall continue 30 until such taxpayer's average monthly liability to the 31 Department during the preceding 4 complete calendar quarters 32 (excluding the month of highest liability and the month of 33 lowest liability) is less than $9,000, or until such 34 taxpayer's average monthly liability to the Department as SB1453 Engrossed -6- LRB9111084SMdv 1 computed for each calendar quarter of the 4 preceding 2 complete calendar quarter period is less than $10,000. 3 However, if a taxpayer can show the Department that a 4 substantial change in the taxpayer's business has occurred 5 which causes the taxpayer to anticipate that his average 6 monthly tax liability for the reasonably foreseeable future 7 will fall below the $10,000 threshold stated above, then such 8 taxpayer may petition the Department for change in such 9 taxpayer's reporting status. On and after October 1, 2000, 10 once applicable, the requirement of the making of quarter 11 monthly payments to the Department shall continue until such 12 taxpayer's average monthly liability to the Department during 13 the preceding 4 complete calendar quarters (excluding the 14 month of highest liability and the month of lowest liability) 15 is less than $19,000 or until such taxpayer's average monthly 16 liability to the Department as computed for each calendar 17 quarter of the 4 preceding complete calendar quarter period 18 is less than $20,000. However, if a taxpayer can show the 19 Department that a substantial change in the taxpayer's 20 business has occurred which causes the taxpayer to anticipate 21 that his average monthly tax liability for the reasonably 22 foreseeable future will fall below the $20,000 threshold 23 stated above, then such taxpayer may petition the Department 24 for a change in such taxpayer's reporting status. The 25 Department shall change such taxpayer's reporting status 26 unless it finds that such change is seasonal in nature and 27 not likely to be long term. If any such quarter monthly 28 payment is not paid at the time or in the amount required by 29 this Section, then the taxpayer shall be liable for penalties 30 and interest on the difference between the minimum amount due 31 and the amount of such quarter monthly payment actually and 32 timely paid, except insofar as the taxpayer has previously 33 made payments for that month to the Department in excess of 34 the minimum payments previously due as provided in this SB1453 Engrossed -7- LRB9111084SMdv 1 Section. The Department shall make reasonable rules and 2 regulations to govern the quarter monthly payment amount and 3 quarter monthly payment dates for taxpayers who file on other 4 than a calendar monthly basis. 5 If any such payment provided for in this Section exceeds 6 the taxpayer's liabilities under this Act, the Retailers' 7 Occupation Tax Act, the Service Occupation Tax Act and the 8 Service Use Tax Act, as shown by an original monthly return, 9 the Department shall issue to the taxpayer a credit 10 memorandum no later than 30 days after the date of payment, 11 which memorandum may be submitted by the taxpayer to the 12 Department in payment of tax liability subsequently to be 13 remitted by the taxpayer to the Department or be assigned by 14 the taxpayer to a similar taxpayer under this Act, the 15 Retailers' Occupation Tax Act, the Service Occupation Tax Act 16 or the Service Use Tax Act, in accordance with reasonable 17 rules and regulations to be prescribed by the Department, 18 except that if such excess payment is shown on an original 19 monthly return and is made after December 31, 1986, no credit 20 memorandum shall be issued, unless requested by the taxpayer. 21 If no such request is made, the taxpayer may credit such 22 excess payment against tax liability subsequently to be 23 remitted by the taxpayer to the Department under this Act, 24 the Retailers' Occupation Tax Act, the Service Occupation Tax 25 Act or the Service Use Tax Act, in accordance with reasonable 26 rules and regulations prescribed by the Department. If the 27 Department subsequently determines that all or any part of 28 the credit taken was not actually due to the taxpayer, the 29 taxpayer's 2.1% or 1.75% vendor's discount shall be reduced 30 by 2.1% or 1.75% of the difference between the credit taken 31 and that actually due, and the taxpayer shall be liable for 32 penalties and interest on such difference. 33 If the retailer is otherwise required to file a monthly 34 return and if the retailer's average monthly tax liability to SB1453 Engrossed -8- LRB9111084SMdv 1 the Department does not exceed $200, the Department may 2 authorize his returns to be filed on a quarter annual basis, 3 with the return for January, February, and March of a given 4 year being due by April 20 of such year; with the return for 5 April, May and June of a given year being due by July 20 of 6 such year; with the return for July, August and September of 7 a given year being due by October 20 of such year, and with 8 the return for October, November and December of a given year 9 being due by January 20 of the following year. 10 If the retailer is otherwise required to file a monthly 11 or quarterly return and if the retailer's average monthly tax 12 liability to the Department does not exceed $50, the 13 Department may authorize his returns to be filed on an annual 14 basis, with the return for a given year being due by January 15 20 of the following year. 16 Such quarter annual and annual returns, as to form and 17 substance, shall be subject to the same requirements as 18 monthly returns. 19 Notwithstanding any other provision in this Act 20 concerning the time within which a retailer may file his 21 return, in the case of any retailer who ceases to engage in a 22 kind of business which makes him responsible for filing 23 returns under this Act, such retailer shall file a final 24 return under this Act with the Department not more than one 25 month after discontinuing such business. 26 In addition, with respect to motor vehicles, watercraft, 27 aircraft, and trailers that are required to be registered 28 with an agency of this State, every retailer selling this 29 kind of tangible personal property shall file, with the 30 Department, upon a form to be prescribed and supplied by the 31 Department, a separate return for each such item of tangible 32 personal property which the retailer sells, except that 33 where, in the same transaction, a retailer of aircraft, 34 watercraft, motor vehicles or trailers transfers more than SB1453 Engrossed -9- LRB9111084SMdv 1 one aircraft, watercraft, motor vehicle or trailer to another 2 aircraft, watercraft, motor vehicle or trailer retailer for 3 the purpose of resale, that seller for resale may report the 4 transfer of all the aircraft, watercraft, motor vehicles or 5 trailers involved in that transaction to the Department on 6 the same uniform invoice-transaction reporting return form. 7 For purposes of this Section, "watercraft" means a Class 2, 8 Class 3, or Class 4 watercraft as defined in Section 3-2 of 9 the Boat Registration and Safety Act, a personal watercraft, 10 or any boat equipped with an inboard motor. 11 The transaction reporting return in the case of motor 12 vehicles or trailers that are required to be registered with 13 an agency of this State, shall be the same document as the 14 Uniform Invoice referred to in Section 5-402 of the Illinois 15 Vehicle Code and must show the name and address of the 16 seller; the name and address of the purchaser; the amount of 17 the selling price including the amount allowed by the 18 retailer for traded-in property, if any; the amount allowed 19 by the retailer for the traded-in tangible personal property, 20 if any, to the extent to which Section 2 of this Act allows 21 an exemption for the value of traded-in property; the balance 22 payable after deducting such trade-in allowance from the 23 total selling price; the amount of tax due from the retailer 24 with respect to such transaction; the amount of tax collected 25 from the purchaser by the retailer on such transaction (or 26 satisfactory evidence that such tax is not due in that 27 particular instance, if that is claimed to be the fact); the 28 place and date of the sale; a sufficient identification of 29 the property sold; such other information as is required in 30 Section 5-402 of the Illinois Vehicle Code, and such other 31 information as the Department may reasonably require. 32 The transaction reporting return in the case of 33 watercraft and aircraft must show the name and address of the 34 seller; the name and address of the purchaser; the amount of SB1453 Engrossed -10- LRB9111084SMdv 1 the selling price including the amount allowed by the 2 retailer for traded-in property, if any; the amount allowed 3 by the retailer for the traded-in tangible personal property, 4 if any, to the extent to which Section 2 of this Act allows 5 an exemption for the value of traded-in property; the balance 6 payable after deducting such trade-in allowance from the 7 total selling price; the amount of tax due from the retailer 8 with respect to such transaction; the amount of tax collected 9 from the purchaser by the retailer on such transaction (or 10 satisfactory evidence that such tax is not due in that 11 particular instance, if that is claimed to be the fact); the 12 place and date of the sale, a sufficient identification of 13 the property sold, and such other information as the 14 Department may reasonably require. 15 Such transaction reporting return shall be filed not 16 later than 20 days after the date of delivery of the item 17 that is being sold, but may be filed by the retailer at any 18 time sooner than that if he chooses to do so. The 19 transaction reporting return and tax remittance or proof of 20 exemption from the tax that is imposed by this Act may be 21 transmitted to the Department by way of the State agency with 22 which, or State officer with whom, the tangible personal 23 property must be titled or registered (if titling or 24 registration is required) if the Department and such agency 25 or State officer determine that this procedure will expedite 26 the processing of applications for title or registration. 27 With each such transaction reporting return, the retailer 28 shall remit the proper amount of tax due (or shall submit 29 satisfactory evidence that the sale is not taxable if that is 30 the case), to the Department or its agents, whereupon the 31 Department shall issue, in the purchaser's name, a tax 32 receipt (or a certificate of exemption if the Department is 33 satisfied that the particular sale is tax exempt) which such 34 purchaser may submit to the agency with which, or State SB1453 Engrossed -11- LRB9111084SMdv 1 officer with whom, he must title or register the tangible 2 personal property that is involved (if titling or 3 registration is required) in support of such purchaser's 4 application for an Illinois certificate or other evidence of 5 title or registration to such tangible personal property. 6 No retailer's failure or refusal to remit tax under this 7 Act precludes a user, who has paid the proper tax to the 8 retailer, from obtaining his certificate of title or other 9 evidence of title or registration (if titling or registration 10 is required) upon satisfying the Department that such user 11 has paid the proper tax (if tax is due) to the retailer. The 12 Department shall adopt appropriate rules to carry out the 13 mandate of this paragraph. 14 If the user who would otherwise pay tax to the retailer 15 wants the transaction reporting return filed and the payment 16 of tax or proof of exemption made to the Department before 17 the retailer is willing to take these actions and such user 18 has not paid the tax to the retailer, such user may certify 19 to the fact of such delay by the retailer, and may (upon the 20 Department being satisfied of the truth of such 21 certification) transmit the information required by the 22 transaction reporting return and the remittance for tax or 23 proof of exemption directly to the Department and obtain his 24 tax receipt or exemption determination, in which event the 25 transaction reporting return and tax remittance (if a tax 26 payment was required) shall be credited by the Department to 27 the proper retailer's account with the Department, but 28 without the 2.1% or 1.75% discount provided for in this 29 Section being allowed. When the user pays the tax directly 30 to the Department, he shall pay the tax in the same amount 31 and in the same form in which it would be remitted if the tax 32 had been remitted to the Department by the retailer. 33 Where a retailer collects the tax with respect to the 34 selling price of tangible personal property which he sells SB1453 Engrossed -12- LRB9111084SMdv 1 and the purchaser thereafter returns such tangible personal 2 property and the retailer refunds the selling price thereof 3 to the purchaser, such retailer shall also refund, to the 4 purchaser, the tax so collected from the purchaser. When 5 filing his return for the period in which he refunds such tax 6 to the purchaser, the retailer may deduct the amount of the 7 tax so refunded by him to the purchaser from any other use 8 tax which such retailer may be required to pay or remit to 9 the Department, as shown by such return, if the amount of the 10 tax to be deducted was previously remitted to the Department 11 by such retailer. If the retailer has not previously 12 remitted the amount of such tax to the Department, he is 13 entitled to no deduction under this Act upon refunding such 14 tax to the purchaser. 15 Any retailer filing a return under this Section shall 16 also include (for the purpose of paying tax thereon) the 17 total tax covered by such return upon the selling price of 18 tangible personal property purchased by him at retail from a 19 retailer, but as to which the tax imposed by this Act was not 20 collected from the retailer filing such return, and such 21 retailer shall remit the amount of such tax to the Department 22 when filing such return. 23 If experience indicates such action to be practicable, 24 the Department may prescribe and furnish a combination or 25 joint return which will enable retailers, who are required to 26 file returns hereunder and also under the Retailers' 27 Occupation Tax Act, to furnish all the return information 28 required by both Acts on the one form. 29 Where the retailer has more than one business registered 30 with the Department under separate registration under this 31 Act, such retailer may not file each return that is due as a 32 single return covering all such registered businesses, but 33 shall file separate returns for each such registered 34 business. SB1453 Engrossed -13- LRB9111084SMdv 1 Beginning January 1, 1990, each month the Department 2 shall pay into the State and Local Sales Tax Reform Fund, a 3 special fund in the State Treasury which is hereby created, 4 the net revenue realized for the preceding month from the 1% 5 tax on sales of food for human consumption which is to be 6 consumed off the premises where it is sold (other than 7 alcoholic beverages, soft drinks and food which has been 8 prepared for immediate consumption) and prescription and 9 nonprescription medicines, drugs, medical appliances and 10 insulin, urine testing materials, syringes and needles used 11 by diabetics. 12 Beginning January 1, 1990, each month the Department 13 shall pay into the County and Mass Transit District Fund 4% 14 of the net revenue realized for the preceding month from the 15 6.25% general rate on the selling price of tangible personal 16 property which is purchased outside Illinois at retail from a 17 retailer and which is titled or registered by an agency of 18 this State's government. 19 Beginning January 1, 1990, each month the Department 20 shall pay into the State and Local Sales Tax Reform Fund, a 21 special fund in the State Treasury, 20% of the net revenue 22 realized for the preceding month from the 6.25% general rate 23 on the selling price of tangible personal property, other 24 than tangible personal property which is purchased outside 25 Illinois at retail from a retailer and which is titled or 26 registered by an agency of this State's government. 27 Beginning January 1, 1990, each month the Department 28 shall pay into the Local Government Tax Fund 16% of the net 29 revenue realized for the preceding month from the 6.25% 30 general rate on the selling price of tangible personal 31 property which is purchased outside Illinois at retail from a 32 retailer and which is titled or registered by an agency of 33 this State's government. 34 Of the remainder of the moneys received by the Department SB1453 Engrossed -14- LRB9111084SMdv 1 pursuant to this Act, (a) 1.75% thereof shall be paid into 2 the Build Illinois Fund and (b) prior to July 1, 1989, 2.2% 3 and on and after July 1, 1989, 3.8% thereof shall be paid 4 into the Build Illinois Fund; provided, however, that if in 5 any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%, 6 as the case may be, of the moneys received by the Department 7 and required to be paid into the Build Illinois Fund pursuant 8 to Section 3 of the Retailers' Occupation Tax Act, Section 9 9 of the Use Tax Act, Section 9 of the Service Use Tax Act, and 10 Section 9 of the Service Occupation Tax Act, such Acts being 11 hereinafter called the "Tax Acts" and such aggregate of 2.2% 12 or 3.8%, as the case may be, of moneys being hereinafter 13 called the "Tax Act Amount", and (2) the amount transferred 14 to the Build Illinois Fund from the State and Local Sales Tax 15 Reform Fund shall be less than the Annual Specified Amount 16 (as defined in Section 3 of the Retailers' Occupation Tax 17 Act), an amount equal to the difference shall be immediately 18 paid into the Build Illinois Fund from other moneys received 19 by the Department pursuant to the Tax Acts; and further 20 provided, that if on the last business day of any month the 21 sum of (1) the Tax Act Amount required to be deposited into 22 the Build Illinois Bond Account in the Build Illinois Fund 23 during such month and (2) the amount transferred during such 24 month to the Build Illinois Fund from the State and Local 25 Sales Tax Reform Fund shall have been less than 1/12 of the 26 Annual Specified Amount, an amount equal to the difference 27 shall be immediately paid into the Build Illinois Fund from 28 other moneys received by the Department pursuant to the Tax 29 Acts; and, further provided, that in no event shall the 30 payments required under the preceding proviso result in 31 aggregate payments into the Build Illinois Fund pursuant to 32 this clause (b) for any fiscal year in excess of the greater 33 of (i) the Tax Act Amount or (ii) the Annual Specified Amount 34 for such fiscal year; and, further provided, that the amounts SB1453 Engrossed -15- LRB9111084SMdv 1 payable into the Build Illinois Fund under this clause (b) 2 shall be payable only until such time as the aggregate amount 3 on deposit under each trust indenture securing Bonds issued 4 and outstanding pursuant to the Build Illinois Bond Act is 5 sufficient, taking into account any future investment income, 6 to fully provide, in accordance with such indenture, for the 7 defeasance of or the payment of the principal of, premium, if 8 any, and interest on the Bonds secured by such indenture and 9 on any Bonds expected to be issued thereafter and all fees 10 and costs payable with respect thereto, all as certified by 11 the Director of the Bureau of the Budget. If on the last 12 business day of any month in which Bonds are outstanding 13 pursuant to the Build Illinois Bond Act, the aggregate of the 14 moneys deposited in the Build Illinois Bond Account in the 15 Build Illinois Fund in such month shall be less than the 16 amount required to be transferred in such month from the 17 Build Illinois Bond Account to the Build Illinois Bond 18 Retirement and Interest Fund pursuant to Section 13 of the 19 Build Illinois Bond Act, an amount equal to such deficiency 20 shall be immediately paid from other moneys received by the 21 Department pursuant to the Tax Acts to the Build Illinois 22 Fund; provided, however, that any amounts paid to the Build 23 Illinois Fund in any fiscal year pursuant to this sentence 24 shall be deemed to constitute payments pursuant to clause (b) 25 of the preceding sentence and shall reduce the amount 26 otherwise payable for such fiscal year pursuant to clause (b) 27 of the preceding sentence. The moneys received by the 28 Department pursuant to this Act and required to be deposited 29 into the Build Illinois Fund are subject to the pledge, claim 30 and charge set forth in Section 12 of the Build Illinois Bond 31 Act. 32 Subject to payment of amounts into the Build Illinois 33 Fund as provided in the preceding paragraph or in any 34 amendment thereto hereafter enacted, the following specified SB1453 Engrossed -16- LRB9111084SMdv 1 monthly installment of the amount requested in the 2 certificate of the Chairman of the Metropolitan Pier and 3 Exposition Authority provided under Section 8.25f of the 4 State Finance Act, but not in excess of the sums designated 5 as "Total Deposit", shall be deposited in the aggregate from 6 collections under Section 9 of the Use Tax Act, Section 9 of 7 the Service Use Tax Act, Section 9 of the Service Occupation 8 Tax Act, and Section 3 of the Retailers' Occupation Tax Act 9 into the McCormick Place Expansion Project Fund in the 10 specified fiscal years. 11 Fiscal Year Total Deposit 12 1993 $0 13 1994 53,000,000 14 1995 58,000,000 15 1996 61,000,000 16 1997 64,000,000 17 1998 68,000,000 18 1999 71,000,000 19 2000 75,000,000 20 2001 80,000,000 21 2002 84,000,000 22 2003 89,000,000 23 2004 93,000,000 24 2005 97,000,000 25 2006 102,000,000 26 2007 108,000,000 27 2008 115,000,000 28 2009 120,000,000 29 2010 126,000,000 30 2011 132,000,000 31 2012 138,000,000 32 2013 and 145,000,000 33 each fiscal year 34 thereafter that bonds SB1453 Engrossed -17- LRB9111084SMdv 1 are outstanding under 2 Section 13.2 of the 3 Metropolitan Pier and 4 Exposition Authority 5 Act, but not after fiscal year 2029. 6 Beginning July 20, 1993 and in each month of each fiscal 7 year thereafter, one-eighth of the amount requested in the 8 certificate of the Chairman of the Metropolitan Pier and 9 Exposition Authority for that fiscal year, less the amount 10 deposited into the McCormick Place Expansion Project Fund by 11 the State Treasurer in the respective month under subsection 12 (g) of Section 13 of the Metropolitan Pier and Exposition 13 Authority Act, plus cumulative deficiencies in the deposits 14 required under this Section for previous months and years, 15 shall be deposited into the McCormick Place Expansion Project 16 Fund, until the full amount requested for the fiscal year, 17 but not in excess of the amount specified above as "Total 18 Deposit", has been deposited. 19 Subject to payment of amounts into the Build Illinois 20 Fund and the McCormick Place Expansion Project Fund pursuant 21 to the preceding paragraphs or in any amendment thereto 22 hereafter enacted, each month the Department shall pay into 23 the Local Government Distributive Fund .4% of the net revenue 24 realized for the preceding month from the 5% general rate, or 25 .4% of 80% of the net revenue realized for the preceding 26 month from the 6.25% general rate, as the case may be, on the 27 selling price of tangible personal property which amount 28 shall, subject to appropriation, be distributed as provided 29 in Section 2 of the State Revenue Sharing Act. No payments or 30 distributions pursuant to this paragraph shall be made if the 31 tax imposed by this Act on photoprocessing products is 32 declared unconstitutional, or if the proceeds from such tax 33 are unavailable for distribution because of litigation. 34 Subject to payment of amounts into the Build Illinois SB1453 Engrossed -18- LRB9111084SMdv 1 Fund, the McCormick Place Expansion Project Fund, and the 2 Local Government Distributive Fund pursuant to the preceding 3 paragraphs or in any amendments thereto hereafter enacted, 4 beginning July 1, 1993, the Department shall each month pay 5 into the Illinois Tax Increment Fund 0.27% of 80% of the net 6 revenue realized for the preceding month from the 6.25% 7 general rate on the selling price of tangible personal 8 property. 9 Of the remainder of the moneys received by the Department 10 pursuant to this Act, 75% thereof shall be paid into the 11 State Treasury and 25% shall be reserved in a special account 12 and used only for the transfer to the Common School Fund as 13 part of the monthly transfer from the General Revenue Fund in 14 accordance with Section 8a of the State Finance Act. 15 As soon as possible after the first day of each month, 16 upon certification of the Department of Revenue, the 17 Comptroller shall order transferred and the Treasurer shall 18 transfer from the General Revenue Fund to the Motor Fuel Tax 19 Fund an amount equal to 1.7% of 80% of the net revenue 20 realized under this Act for the second preceding month. 21 Beginning April 1, 2000, this transfer is no longer required 22 and shall not be made. 23 Net revenue realized for a month shall be the revenue 24 collected by the State pursuant to this Act, less the amount 25 paid out during that month as refunds to taxpayers for 26 overpayment of liability. 27 For greater simplicity of administration, manufacturers, 28 importers and wholesalers whose products are sold at retail 29 in Illinois by numerous retailers, and who wish to do so, may 30 assume the responsibility for accounting and paying to the 31 Department all tax accruing under this Act with respect to 32 such sales, if the retailers who are affected do not make 33 written objection to the Department to this arrangement. 34 (Source: P.A. 90-491, eff. 1-1-99; 90-612, eff. 7-8-98; SB1453 Engrossed -19- LRB9111084SMdv 1 91-37, eff. 7-1-99; 91-51, eff. 6-30-99; 91-101, eff. 2 7-12-99; 91-541, eff. 8-13-99; revised 9-29-99.)