Bill Status of SB0121

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SB0121 - 104th General Assembly

REVENUE-COMMUNITY DEVELOP
Last Action
1/17/2025 - Senate: Referred to Assignments
Senate Sponsors
Sen. Willie Preston
Statutes Amended In Order of Appearance
New Act
35 ILCS 105/3-10
35 ILCS 105/9
35 ILCS 110/3-10
35 ILCS 110/9
35 ILCS 115/3-10
35 ILCS 115/9from Ch. 120, par. 439.109
35 ILCS 120/2-10
35 ILCS 120/3
Synopsis As Introduced
Creates the Community Revitalization Zone Act. Provides that a county or municipality may designate an area within its jurisdiction as a community redevelopment zone, subject to the certification of the Department of Commerce and Economic Opportunity. Sets forth the criteria for designation as a community redevelopment zone. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, with respect to tangible personal property that is purchased from a retailer located in a community revitalization zone, the taxes under those Acts are imposed at the rate of 3.25%. Effective immediately.
Actions
Date Chamber Action
1/17/2025 Senate Filed with Secretary by Sen. Willie Preston
1/17/2025 Senate First Reading
1/17/2025 Senate Referred to Assignments