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91_SB1453sam001
SRS91SB1453NCcbam01
1 AMENDMENT TO SENATE BILL 1453
2 AMENDMENT NO. . Amend Senate Bill 1453 be replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Use Tax Act is amended by changing Section 9
5 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
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1 remit that part of any tax collected by him to the extent
2 that he is required to remit and does remit the tax imposed
3 by the Retailers' Occupation Tax Act, with respect to the
4 sale of the same property.
5 Where such tangible personal property is sold under a
6 conditional sales contract, or under any other form of sale
7 wherein the payment of the principal sum, or a part thereof,
8 is extended beyond the close of the period for which the
9 return is filed, the retailer, in collecting the tax (except
10 as to motor vehicles, watercraft, aircraft, and trailers that
11 are required to be registered with an agency of this State),
12 may collect for each tax return period, only the tax
13 applicable to that part of the selling price actually
14 received during such tax return period.
15 Except as provided in this Section, on or before the
16 twentieth day of each calendar month, such retailer shall
17 file a return for the preceding calendar month. Such return
18 shall be filed on forms prescribed by the Department and
19 shall furnish such information as the Department may
20 reasonably require.
21 The Department may require returns to be filed on a
22 quarterly basis. If so required, a return for each calendar
23 quarter shall be filed on or before the twentieth day of the
24 calendar month following the end of such calendar quarter.
25 The taxpayer shall also file a return with the Department for
26 each of the first two months of each calendar quarter, on or
27 before the twentieth day of the following calendar month,
28 stating:
29 1. The name of the seller;
30 2. The address of the principal place of business
31 from which he engages in the business of selling tangible
32 personal property at retail in this State;
33 3. The total amount of taxable receipts received by
34 him during the preceding calendar month from sales of
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1 tangible personal property by him during such preceding
2 calendar month, including receipts from charge and time
3 sales, but less all deductions allowed by law;
4 4. The amount of credit provided in Section 2d of
5 this Act;
6 5. The amount of tax due;
7 5-5. The signature of the taxpayer; and
8 6. Such other reasonable information as the
9 Department may require.
10 If a taxpayer fails to sign a return within 30 days after
11 the proper notice and demand for signature by the Department,
12 the return shall be considered valid and any amount shown to
13 be due on the return shall be deemed assessed.
14 Beginning October 1, 1993, a taxpayer who has an average
15 monthly tax liability of $150,000 or more shall make all
16 payments required by rules of the Department by electronic
17 funds transfer. Beginning October 1, 1994, a taxpayer who has
18 an average monthly tax liability of $100,000 or more shall
19 make all payments required by rules of the Department by
20 electronic funds transfer. Beginning October 1, 1995, a
21 taxpayer who has an average monthly tax liability of $50,000
22 or more shall make all payments required by rules of the
23 Department by electronic funds transfer. Beginning October 1,
24 2000, a taxpayer who has an annual tax liability of $200,000
25 or more shall make all payments required by rules of the
26 Department by electronic funds transfer. The term "annual
27 tax liability" shall be the sum of the taxpayer's liabilities
28 under this Act, and under all other State and local
29 occupation and use tax laws administered by the Department,
30 for the immediately preceding calendar year. The term
31 "average monthly tax liability" means the sum of the
32 taxpayer's liabilities under this Act, and under all other
33 State and local occupation and use tax laws administered by
34 the Department, for the immediately preceding calendar year
-4- SRS91SB1453NCcbam01
1 divided by 12.
2 Before August 1 of each year beginning in 1993, the
3 Department shall notify all taxpayers required to make
4 payments by electronic funds transfer. All taxpayers required
5 to make payments by electronic funds transfer shall make
6 those payments for a minimum of one year beginning on October
7 1.
8 Any taxpayer not required to make payments by electronic
9 funds transfer may make payments by electronic funds transfer
10 with the permission of the Department.
11 All taxpayers required to make payment by electronic
12 funds transfer and any taxpayers authorized to voluntarily
13 make payments by electronic funds transfer shall make those
14 payments in the manner authorized by the Department.
15 The Department shall adopt such rules as are necessary to
16 effectuate a program of electronic funds transfer and the
17 requirements of this Section.
18 Before October 1, 2000, if the taxpayer's average monthly
19 tax liability to the Department under this Act, the
20 Retailers' Occupation Tax Act, the Service Occupation Tax
21 Act, the Service Use Tax Act was $10,000 or more during the
22 preceding 4 complete calendar quarters, he shall file a
23 return with the Department each month by the 20th day of the
24 month next following the month during which such tax
25 liability is incurred and shall make payments to the
26 Department on or before the 7th, 15th, 22nd and last day of
27 the month during which such liability is incurred. On and
28 after October 1, 2000, if the taxpayer's average monthly tax
29 liability to the Department under this Act, the Retailers'
30 Occupation Tax Act, the Service Occupation Tax Act, and the
31 Service Use Tax Act was $20,000 or more during the preceding
32 4 complete calendar quarters, he shall file a return with the
33 Department each month by the 20th day of the month next
34 following the month during which such tax liability is
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1 incurred and shall make payment to the Department on or
2 before the 7th, 15th, 22nd and last day of or the month
3 during which such liability is incurred. If the month during
4 which such tax liability is incurred began prior to January
5 1, 1985, each payment shall be in an amount equal to 1/4 of
6 the taxpayer's actual liability for the month or an amount
7 set by the Department not to exceed 1/4 of the average
8 monthly liability of the taxpayer to the Department for the
9 preceding 4 complete calendar quarters (excluding the month
10 of highest liability and the month of lowest liability in
11 such 4 quarter period). If the month during which such tax
12 liability is incurred begins on or after January 1, 1985, and
13 prior to January 1, 1987, each payment shall be in an amount
14 equal to 22.5% of the taxpayer's actual liability for the
15 month or 27.5% of the taxpayer's liability for the same
16 calendar month of the preceding year. If the month during
17 which such tax liability is incurred begins on or after
18 January 1, 1987, and prior to January 1, 1988, each payment
19 shall be in an amount equal to 22.5% of the taxpayer's actual
20 liability for the month or 26.25% of the taxpayer's liability
21 for the same calendar month of the preceding year. If the
22 month during which such tax liability is incurred begins on
23 or after January 1, 1988, and prior to January 1, 1989, or
24 begins on or after January 1, 1996, each payment shall be in
25 an amount equal to 22.5% of the taxpayer's actual liability
26 for the month or 25% of the taxpayer's liability for the same
27 calendar month of the preceding year. If the month during
28 which such tax liability is incurred begins on or after
29 January 1, 1989, and prior to January 1, 1996, each payment
30 shall be in an amount equal to 22.5% of the taxpayer's actual
31 liability for the month or 25% of the taxpayer's liability
32 for the same calendar month of the preceding year or 100% of
33 the taxpayer's actual liability for the quarter monthly
34 reporting period. The amount of such quarter monthly
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1 payments shall be credited against the final tax liability of
2 the taxpayer's return for that month. Before October 1,
3 2000, once applicable, the requirement of the making of
4 quarter monthly payments to the Department shall continue
5 until such taxpayer's average monthly liability to the
6 Department during the preceding 4 complete calendar quarters
7 (excluding the month of highest liability and the month of
8 lowest liability) is less than $9,000, or until such
9 taxpayer's average monthly liability to the Department as
10 computed for each calendar quarter of the 4 preceding
11 complete calendar quarter period is less than $10,000.
12 However, if a taxpayer can show the Department that a
13 substantial change in the taxpayer's business has occurred
14 which causes the taxpayer to anticipate that his average
15 monthly tax liability for the reasonably foreseeable future
16 will fall below the $10,000 threshold stated above, then such
17 taxpayer may petition the Department for change in such
18 taxpayer's reporting status. On and after October 1, 2000,
19 once applicable, the requirement of the making of quarter
20 monthly payments to the Department shall continue until such
21 taxpayer's average monthly liability to the Department during
22 the preceding 4 complete calendar quarters (excluding the
23 month of highest liability and the month of lowest liability)
24 is less than $19,000 or until such taxpayer's average monthly
25 liability to the Department as computed for each calendar
26 quarter of the 4 preceding complete calendar quarter period
27 is less than $20,000. However, if a taxpayer can show the
28 Department that a substantial change in the taxpayer's
29 business has occurred which causes the taxpayer to anticipate
30 that his average monthly tax liability for the reasonably
31 foreseeable future will fall below the $20,000 threshold
32 stated above, then such taxpayer may petition the Department
33 for a change in such taxpayer's reporting status. The
34 Department shall change such taxpayer's reporting status
-7- SRS91SB1453NCcbam01
1 unless it finds that such change is seasonal in nature and
2 not likely to be long term. If any such quarter monthly
3 payment is not paid at the time or in the amount required by
4 this Section, then the taxpayer shall be liable for penalties
5 and interest on the difference between the minimum amount due
6 and the amount of such quarter monthly payment actually and
7 timely paid, except insofar as the taxpayer has previously
8 made payments for that month to the Department in excess of
9 the minimum payments previously due as provided in this
10 Section. The Department shall make reasonable rules and
11 regulations to govern the quarter monthly payment amount and
12 quarter monthly payment dates for taxpayers who file on other
13 than a calendar monthly basis.
14 If any such payment provided for in this Section exceeds
15 the taxpayer's liabilities under this Act, the Retailers'
16 Occupation Tax Act, the Service Occupation Tax Act and the
17 Service Use Tax Act, as shown by an original monthly return,
18 the Department shall issue to the taxpayer a credit
19 memorandum no later than 30 days after the date of payment,
20 which memorandum may be submitted by the taxpayer to the
21 Department in payment of tax liability subsequently to be
22 remitted by the taxpayer to the Department or be assigned by
23 the taxpayer to a similar taxpayer under this Act, the
24 Retailers' Occupation Tax Act, the Service Occupation Tax Act
25 or the Service Use Tax Act, in accordance with reasonable
26 rules and regulations to be prescribed by the Department,
27 except that if such excess payment is shown on an original
28 monthly return and is made after December 31, 1986, no credit
29 memorandum shall be issued, unless requested by the taxpayer.
30 If no such request is made, the taxpayer may credit such
31 excess payment against tax liability subsequently to be
32 remitted by the taxpayer to the Department under this Act,
33 the Retailers' Occupation Tax Act, the Service Occupation Tax
34 Act or the Service Use Tax Act, in accordance with reasonable
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1 rules and regulations prescribed by the Department. If the
2 Department subsequently determines that all or any part of
3 the credit taken was not actually due to the taxpayer, the
4 taxpayer's 2.1% or 1.75% vendor's discount shall be reduced
5 by 2.1% or 1.75% of the difference between the credit taken
6 and that actually due, and the taxpayer shall be liable for
7 penalties and interest on such difference.
8 If the retailer is otherwise required to file a monthly
9 return and if the retailer's average monthly tax liability to
10 the Department does not exceed $200, the Department may
11 authorize his returns to be filed on a quarter annual basis,
12 with the return for January, February, and March of a given
13 year being due by April 20 of such year; with the return for
14 April, May and June of a given year being due by July 20 of
15 such year; with the return for July, August and September of
16 a given year being due by October 20 of such year, and with
17 the return for October, November and December of a given year
18 being due by January 20 of the following year.
19 If the retailer is otherwise required to file a monthly
20 or quarterly return and if the retailer's average monthly tax
21 liability to the Department does not exceed $50, the
22 Department may authorize his returns to be filed on an annual
23 basis, with the return for a given year being due by January
24 20 of the following year.
25 Such quarter annual and annual returns, as to form and
26 substance, shall be subject to the same requirements as
27 monthly returns.
28 Notwithstanding any other provision in this Act
29 concerning the time within which a retailer may file his
30 return, in the case of any retailer who ceases to engage in a
31 kind of business which makes him responsible for filing
32 returns under this Act, such retailer shall file a final
33 return under this Act with the Department not more than one
34 month after discontinuing such business.
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1 In addition, with respect to motor vehicles, watercraft,
2 aircraft, and trailers that are required to be registered
3 with an agency of this State, every retailer selling this
4 kind of tangible personal property shall file, with the
5 Department, upon a form to be prescribed and supplied by the
6 Department, a separate return for each such item of tangible
7 personal property which the retailer sells, except that
8 where, in the same transaction, a retailer of aircraft,
9 watercraft, motor vehicles or trailers transfers more than
10 one aircraft, watercraft, motor vehicle or trailer to another
11 aircraft, watercraft, motor vehicle or trailer retailer for
12 the purpose of resale, that seller for resale may report the
13 transfer of all the aircraft, watercraft, motor vehicles or
14 trailers involved in that transaction to the Department on
15 the same uniform invoice-transaction reporting return form.
16 For purposes of this Section, "watercraft" means a Class 2,
17 Class 3, or Class 4 watercraft as defined in Section 3-2 of
18 the Boat Registration and Safety Act, a personal watercraft,
19 or any boat equipped with an inboard motor.
20 The transaction reporting return in the case of motor
21 vehicles or trailers that are required to be registered with
22 an agency of this State, shall be the same document as the
23 Uniform Invoice referred to in Section 5-402 of the Illinois
24 Vehicle Code and must show the name and address of the
25 seller; the name and address of the purchaser; the amount of
26 the selling price including the amount allowed by the
27 retailer for traded-in property, if any; the amount allowed
28 by the retailer for the traded-in tangible personal property,
29 if any, to the extent to which Section 2 of this Act allows
30 an exemption for the value of traded-in property; the balance
31 payable after deducting such trade-in allowance from the
32 total selling price; the amount of tax due from the retailer
33 with respect to such transaction; the amount of tax collected
34 from the purchaser by the retailer on such transaction (or
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1 satisfactory evidence that such tax is not due in that
2 particular instance, if that is claimed to be the fact); the
3 place and date of the sale; a sufficient identification of
4 the property sold; such other information as is required in
5 Section 5-402 of the Illinois Vehicle Code, and such other
6 information as the Department may reasonably require.
7 The transaction reporting return in the case of
8 watercraft and aircraft must show the name and address of the
9 seller; the name and address of the purchaser; the amount of
10 the selling price including the amount allowed by the
11 retailer for traded-in property, if any; the amount allowed
12 by the retailer for the traded-in tangible personal property,
13 if any, to the extent to which Section 2 of this Act allows
14 an exemption for the value of traded-in property; the balance
15 payable after deducting such trade-in allowance from the
16 total selling price; the amount of tax due from the retailer
17 with respect to such transaction; the amount of tax collected
18 from the purchaser by the retailer on such transaction (or
19 satisfactory evidence that such tax is not due in that
20 particular instance, if that is claimed to be the fact); the
21 place and date of the sale, a sufficient identification of
22 the property sold, and such other information as the
23 Department may reasonably require.
24 Such transaction reporting return shall be filed not
25 later than 20 days after the date of delivery of the item
26 that is being sold, but may be filed by the retailer at any
27 time sooner than that if he chooses to do so. The
28 transaction reporting return and tax remittance or proof of
29 exemption from the tax that is imposed by this Act may be
30 transmitted to the Department by way of the State agency with
31 which, or State officer with whom, the tangible personal
32 property must be titled or registered (if titling or
33 registration is required) if the Department and such agency
34 or State officer determine that this procedure will expedite
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1 the processing of applications for title or registration.
2 With each such transaction reporting return, the retailer
3 shall remit the proper amount of tax due (or shall submit
4 satisfactory evidence that the sale is not taxable if that is
5 the case), to the Department or its agents, whereupon the
6 Department shall issue, in the purchaser's name, a tax
7 receipt (or a certificate of exemption if the Department is
8 satisfied that the particular sale is tax exempt) which such
9 purchaser may submit to the agency with which, or State
10 officer with whom, he must title or register the tangible
11 personal property that is involved (if titling or
12 registration is required) in support of such purchaser's
13 application for an Illinois certificate or other evidence of
14 title or registration to such tangible personal property.
15 No retailer's failure or refusal to remit tax under this
16 Act precludes a user, who has paid the proper tax to the
17 retailer, from obtaining his certificate of title or other
18 evidence of title or registration (if titling or registration
19 is required) upon satisfying the Department that such user
20 has paid the proper tax (if tax is due) to the retailer. The
21 Department shall adopt appropriate rules to carry out the
22 mandate of this paragraph.
23 If the user who would otherwise pay tax to the retailer
24 wants the transaction reporting return filed and the payment
25 of tax or proof of exemption made to the Department before
26 the retailer is willing to take these actions and such user
27 has not paid the tax to the retailer, such user may certify
28 to the fact of such delay by the retailer, and may (upon the
29 Department being satisfied of the truth of such
30 certification) transmit the information required by the
31 transaction reporting return and the remittance for tax or
32 proof of exemption directly to the Department and obtain his
33 tax receipt or exemption determination, in which event the
34 transaction reporting return and tax remittance (if a tax
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1 payment was required) shall be credited by the Department to
2 the proper retailer's account with the Department, but
3 without the 2.1% or 1.75% discount provided for in this
4 Section being allowed. When the user pays the tax directly
5 to the Department, he shall pay the tax in the same amount
6 and in the same form in which it would be remitted if the tax
7 had been remitted to the Department by the retailer.
8 Where a retailer collects the tax with respect to the
9 selling price of tangible personal property which he sells
10 and the purchaser thereafter returns such tangible personal
11 property and the retailer refunds the selling price thereof
12 to the purchaser, such retailer shall also refund, to the
13 purchaser, the tax so collected from the purchaser. When
14 filing his return for the period in which he refunds such tax
15 to the purchaser, the retailer may deduct the amount of the
16 tax so refunded by him to the purchaser from any other use
17 tax which such retailer may be required to pay or remit to
18 the Department, as shown by such return, if the amount of the
19 tax to be deducted was previously remitted to the Department
20 by such retailer. If the retailer has not previously
21 remitted the amount of such tax to the Department, he is
22 entitled to no deduction under this Act upon refunding such
23 tax to the purchaser.
24 Any retailer filing a return under this Section shall
25 also include (for the purpose of paying tax thereon) the
26 total tax covered by such return upon the selling price of
27 tangible personal property purchased by him at retail from a
28 retailer, but as to which the tax imposed by this Act was not
29 collected from the retailer filing such return, and such
30 retailer shall remit the amount of such tax to the Department
31 when filing such return.
32 If experience indicates such action to be practicable,
33 the Department may prescribe and furnish a combination or
34 joint return which will enable retailers, who are required to
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1 file returns hereunder and also under the Retailers'
2 Occupation Tax Act, to furnish all the return information
3 required by both Acts on the one form.
4 Where the retailer has more than one business registered
5 with the Department under separate registration under this
6 Act, such retailer may not file each return that is due as a
7 single return covering all such registered businesses, but
8 shall file separate returns for each such registered
9 business.
10 Beginning January 1, 1990, each month the Department
11 shall pay into the State and Local Sales Tax Reform Fund, a
12 special fund in the State Treasury which is hereby created,
13 the net revenue realized for the preceding month from the 1%
14 tax on sales of food for human consumption which is to be
15 consumed off the premises where it is sold (other than
16 alcoholic beverages, soft drinks and food which has been
17 prepared for immediate consumption) and prescription and
18 nonprescription medicines, drugs, medical appliances and
19 insulin, urine testing materials, syringes and needles used
20 by diabetics.
21 Beginning January 1, 1990, each month the Department
22 shall pay into the County and Mass Transit District Fund 4%
23 of the net revenue realized for the preceding month from the
24 6.25% general rate on the selling price of tangible personal
25 property which is purchased outside Illinois at retail from a
26 retailer and which is titled or registered by an agency of
27 this State's government.
28 Beginning January 1, 1990, each month the Department
29 shall pay into the State and Local Sales Tax Reform Fund, a
30 special fund in the State Treasury, 20% of the net revenue
31 realized for the preceding month from the 6.25% general rate
32 on the selling price of tangible personal property, other
33 than tangible personal property which is purchased outside
34 Illinois at retail from a retailer and which is titled or
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1 registered by an agency of this State's government.
2 Beginning January 1, 1990, each month the Department
3 shall pay into the Local Government Tax Fund 16% of the net
4 revenue realized for the preceding month from the 6.25%
5 general rate on the selling price of tangible personal
6 property which is purchased outside Illinois at retail from a
7 retailer and which is titled or registered by an agency of
8 this State's government.
9 Of the remainder of the moneys received by the Department
10 pursuant to this Act, (a) 1.75% thereof shall be paid into
11 the Build Illinois Fund and (b) prior to July 1, 1989, 2.2%
12 and on and after July 1, 1989, 3.8% thereof shall be paid
13 into the Build Illinois Fund; provided, however, that if in
14 any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%,
15 as the case may be, of the moneys received by the Department
16 and required to be paid into the Build Illinois Fund pursuant
17 to Section 3 of the Retailers' Occupation Tax Act, Section 9
18 of the Use Tax Act, Section 9 of the Service Use Tax Act, and
19 Section 9 of the Service Occupation Tax Act, such Acts being
20 hereinafter called the "Tax Acts" and such aggregate of 2.2%
21 or 3.8%, as the case may be, of moneys being hereinafter
22 called the "Tax Act Amount", and (2) the amount transferred
23 to the Build Illinois Fund from the State and Local Sales Tax
24 Reform Fund shall be less than the Annual Specified Amount
25 (as defined in Section 3 of the Retailers' Occupation Tax
26 Act), an amount equal to the difference shall be immediately
27 paid into the Build Illinois Fund from other moneys received
28 by the Department pursuant to the Tax Acts; and further
29 provided, that if on the last business day of any month the
30 sum of (1) the Tax Act Amount required to be deposited into
31 the Build Illinois Bond Account in the Build Illinois Fund
32 during such month and (2) the amount transferred during such
33 month to the Build Illinois Fund from the State and Local
34 Sales Tax Reform Fund shall have been less than 1/12 of the
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1 Annual Specified Amount, an amount equal to the difference
2 shall be immediately paid into the Build Illinois Fund from
3 other moneys received by the Department pursuant to the Tax
4 Acts; and, further provided, that in no event shall the
5 payments required under the preceding proviso result in
6 aggregate payments into the Build Illinois Fund pursuant to
7 this clause (b) for any fiscal year in excess of the greater
8 of (i) the Tax Act Amount or (ii) the Annual Specified Amount
9 for such fiscal year; and, further provided, that the amounts
10 payable into the Build Illinois Fund under this clause (b)
11 shall be payable only until such time as the aggregate amount
12 on deposit under each trust indenture securing Bonds issued
13 and outstanding pursuant to the Build Illinois Bond Act is
14 sufficient, taking into account any future investment income,
15 to fully provide, in accordance with such indenture, for the
16 defeasance of or the payment of the principal of, premium, if
17 any, and interest on the Bonds secured by such indenture and
18 on any Bonds expected to be issued thereafter and all fees
19 and costs payable with respect thereto, all as certified by
20 the Director of the Bureau of the Budget. If on the last
21 business day of any month in which Bonds are outstanding
22 pursuant to the Build Illinois Bond Act, the aggregate of the
23 moneys deposited in the Build Illinois Bond Account in the
24 Build Illinois Fund in such month shall be less than the
25 amount required to be transferred in such month from the
26 Build Illinois Bond Account to the Build Illinois Bond
27 Retirement and Interest Fund pursuant to Section 13 of the
28 Build Illinois Bond Act, an amount equal to such deficiency
29 shall be immediately paid from other moneys received by the
30 Department pursuant to the Tax Acts to the Build Illinois
31 Fund; provided, however, that any amounts paid to the Build
32 Illinois Fund in any fiscal year pursuant to this sentence
33 shall be deemed to constitute payments pursuant to clause (b)
34 of the preceding sentence and shall reduce the amount
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1 otherwise payable for such fiscal year pursuant to clause (b)
2 of the preceding sentence. The moneys received by the
3 Department pursuant to this Act and required to be deposited
4 into the Build Illinois Fund are subject to the pledge, claim
5 and charge set forth in Section 12 of the Build Illinois Bond
6 Act.
7 Subject to payment of amounts into the Build Illinois
8 Fund as provided in the preceding paragraph or in any
9 amendment thereto hereafter enacted, the following specified
10 monthly installment of the amount requested in the
11 certificate of the Chairman of the Metropolitan Pier and
12 Exposition Authority provided under Section 8.25f of the
13 State Finance Act, but not in excess of the sums designated
14 as "Total Deposit", shall be deposited in the aggregate from
15 collections under Section 9 of the Use Tax Act, Section 9 of
16 the Service Use Tax Act, Section 9 of the Service Occupation
17 Tax Act, and Section 3 of the Retailers' Occupation Tax Act
18 into the McCormick Place Expansion Project Fund in the
19 specified fiscal years.
20 Fiscal Year Total Deposit
21 1993 $0
22 1994 53,000,000
23 1995 58,000,000
24 1996 61,000,000
25 1997 64,000,000
26 1998 68,000,000
27 1999 71,000,000
28 2000 75,000,000
29 2001 80,000,000
30 2002 84,000,000
31 2003 89,000,000
32 2004 93,000,000
33 2005 97,000,000
34 2006 102,000,000
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1 2007 108,000,000
2 2008 115,000,000
3 2009 120,000,000
4 2010 126,000,000
5 2011 132,000,000
6 2012 138,000,000
7 2013 and 145,000,000
8 each fiscal year
9 thereafter that bonds
10 are outstanding under
11 Section 13.2 of the
12 Metropolitan Pier and
13 Exposition Authority
14 Act, but not after fiscal year 2029.
15 Beginning July 20, 1993 and in each month of each fiscal
16 year thereafter, one-eighth of the amount requested in the
17 certificate of the Chairman of the Metropolitan Pier and
18 Exposition Authority for that fiscal year, less the amount
19 deposited into the McCormick Place Expansion Project Fund by
20 the State Treasurer in the respective month under subsection
21 (g) of Section 13 of the Metropolitan Pier and Exposition
22 Authority Act, plus cumulative deficiencies in the deposits
23 required under this Section for previous months and years,
24 shall be deposited into the McCormick Place Expansion Project
25 Fund, until the full amount requested for the fiscal year,
26 but not in excess of the amount specified above as "Total
27 Deposit", has been deposited.
28 Subject to payment of amounts into the Build Illinois
29 Fund and the McCormick Place Expansion Project Fund pursuant
30 to the preceding paragraphs or in any amendment thereto
31 hereafter enacted, each month the Department shall pay into
32 the Local Government Distributive Fund .4% of the net revenue
33 realized for the preceding month from the 5% general rate, or
34 .4% of 80% of the net revenue realized for the preceding
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1 month from the 6.25% general rate, as the case may be, on the
2 selling price of tangible personal property which amount
3 shall, subject to appropriation, be distributed as provided
4 in Section 2 of the State Revenue Sharing Act. No payments or
5 distributions pursuant to this paragraph shall be made if the
6 tax imposed by this Act on photoprocessing products is
7 declared unconstitutional, or if the proceeds from such tax
8 are unavailable for distribution because of litigation.
9 Subject to payment of amounts into the Build Illinois
10 Fund, the McCormick Place Expansion Project Fund, and the
11 Local Government Distributive Fund pursuant to the preceding
12 paragraphs or in any amendments thereto hereafter enacted,
13 beginning July 1, 1993, the Department shall each month pay
14 into the Illinois Tax Increment Fund 0.27% of 80% of the net
15 revenue realized for the preceding month from the 6.25%
16 general rate on the selling price of tangible personal
17 property.
18 Of the remainder of the moneys received by the Department
19 pursuant to this Act, 75% thereof shall be paid into the
20 State Treasury and 25% shall be reserved in a special account
21 and used only for the transfer to the Common School Fund as
22 part of the monthly transfer from the General Revenue Fund in
23 accordance with Section 8a of the State Finance Act.
24 As soon as possible after the first day of each month,
25 upon certification of the Department of Revenue, the
26 Comptroller shall order transferred and the Treasurer shall
27 transfer from the General Revenue Fund to the Motor Fuel Tax
28 Fund an amount equal to 1.7% of 80% of the net revenue
29 realized under this Act for the second preceding month.
30 Beginning April 1, 2000, this transfer is no longer required
31 and shall not be made.
32 Net revenue realized for a month shall be the revenue
33 collected by the State pursuant to this Act, less the amount
34 paid out during that month as refunds to taxpayers for
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1 overpayment of liability.
2 For greater simplicity of administration, manufacturers,
3 importers and wholesalers whose products are sold at retail
4 in Illinois by numerous retailers, and who wish to do so, may
5 assume the responsibility for accounting and paying to the
6 Department all tax accruing under this Act with respect to
7 such sales, if the retailers who are affected do not make
8 written objection to the Department to this arrangement.".
9 (Source: P.A. 90-491, eff. 1-1-99; 90-612, eff. 7-8-98;
10 91-37, eff. 7-1-99; 91-51, eff. 6-30-99; 91-101, eff.
11 7-12-99; 91-541, eff. 8-13-99; revised 9-29-99.)