Bill Status of HB 5237   103rd General Assembly


Short Description:  AXE THE TIMBER TAX

House Sponsors
Rep. Tony M. McCombie

Last Action  View All Actions

DateChamber Action
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
225 ILCS 735/11from Ch. 111, par. 711
225 ILCS 735/9a rep.
525 ILCS 15/5from Ch. 96 1/2, par. 9105
525 ILCS 15/7from Ch. 96 1/2, par. 9107

Synopsis As Introduced
Amends the Timber Buyers Licensing Act. Repeals provisions that require a person buying timber from a timber grower to deduct from the payment to the timber grower an amount which equals 4% of the purchase price or 4% of the minimum fair market value and forward such amount to the Department of Natural Resources. Repeals provisions that require a timber grower who utilizes timber produced on land the timber grower owns or operates for sawing into lumber, processing, or resale to pay to the Department an amount equal to 4% of the minimum fair market value of the timber utilized during a period. Makes conforming changes.

Actions 
DateChamber Action
  2/8/2024HouseFiled with the Clerk by Rep. Tony M. McCombie
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  3/5/2024HouseAssigned to Revenue & Finance Committee
  3/8/2024HouseTo Revenue - Sales, Amusement and Other Taxes Subcommittee
  4/5/2024HouseRule 19(a) / Re-referred to Rules Committee

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