AUTHORITY: Implementing Section 2-202, as amended by P.A. 85-19, effective July 20, 1987, and authorized by Section 10-101 of The Public Utilities Act (Ill. Rev. Stat. 1985, ch. 111 2/3, pars. 2-202, as amended by P.A. 85-19, effective July 20, 1987, and 10-101).

SOURCE: Filed and effective November 19, 1975; codified at 8 Ill. Reg. 5146; amended at 9 Ill. Reg. 1043, effective January 16, 1985; emergency amendment at 11 Ill. Reg. 20233, effective December 1, 1987, for a maximum of 150 days; amended at 12 Ill. Reg. 7580, effective April 27, 1988.

SUBPART A: TAX RATE

 

Section 270.5  Annual Gross Revenue Tax Rate

 

a)         The rate for the annual gross revenue tax for each public utility or telecommunications carrier subject to the provisions of The Public Utilities Act (Ill. Rev. Stat. 1985, ch. 111⅔, pars. 1-101 et seq.) shall be .09% of its gross revenue for the period from January 1, 1988 through June 30, 1988, inclusive, and 0.1% of its gross revenue from July 1, 1988 through December 31, 1988, and for each subsequent calendar year.

 

b)         On or before July 10, 1988, each such public utility or telecommunications carrier shall file with the Commission an updated gross revenue return for the period from July 1, 1988, through December 31, 1988, inclusive, containing an estimate of the tax due under subsection (a) for that period.  One half of the amount of tax due for that period shall be paid to the Commission on or before the tenth day of July and October of 1988.

 

(Source:  Added at 12 Ill. Reg. 7580, effective April 27, 1988)

SUBPART B: TRANSFER OF CREDIT MEMORANDA

 

Section 270.10  Annual Gross Revenue Return Form (Repealed)

 

(Source:  Repealed at 12 Ill. Reg. 7580, effective April 27, 1988)

 

Section 270.20  Instructions (Repealed)

 

(Source:  Repealed at 12 Ill. Reg. 7580, effective April 27, 1988)

 

Section 270.30  Transfer of Credit Memoranda

 

a)         Any public utility or telecommunications carrier to which credit memoranda were originally issued and which has transferred credit memoranda shall notify the Commission within 15 days after the transaction.

 

b)         Such notification shall include:

 

1)         the name and address of the utility or telecommunications carrier to which the credit was originally issued;

 

2)         the name and address of the utility or telecommunications carrier to which the credit is transferred;

 

3)         the date of the transfer;

 

4)         the amount of credit transferred; and

 

5)         the signature of an appropriate officer of the utility of telecommunications carrier.

 

c)         Transferred credits must be applied to the annual gross revenue returns within 2 years from the date of issuance.

 

(Source:  Amended at 12 Ill. Reg. 7580, effective April 27, 1988)

 

Section 270.40  Filing Requirements (Repealed)

 

(Source:  Repealed at 9 Ill. Reg. 1043, effective January 16, 1985)