97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB4082
 
Introduced , by Rep. Jehan A. Gordon
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 120/2-54

     Amends the Retailers' Occupation Tax Act.  Provides that a building materials exemption for River Edge Redevelopment Zones applies to all real estate (now, only industrial or commercial projects).  Effective immediately.
  


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FISCAL NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
HB4082LRB097 17148 HLH 62346 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  


 
4    Section 5. The Retailers' Occupation Tax Act is amended  by 
5changing Section 2-54 as follows:
 
6    (35 ILCS 120/2-54)

7    Sec. 2-54. Building materials exemption; River Edge 
8Redevelopment Zones.  Each retailer that makes a qualified sale 
9of building materials to be incorporated into real estate 
10within a River Edge Redevelopment Zone in accordance with the 
11River Edge Redevelopment Zone Act by remodeling, 
12rehabilitating, or new construction may deduct receipts from 
13those sales when calculating the tax imposed by this Act. For 
14purposes of this Section, "qualified sale" means a sale of 
15building materials that will be incorporated into real estate 
16as part of an industrial or commercial project for which a 
17Certificate of Eligibility for Sales Tax Exemption has been 
18issued by the corporate authorities of the municipality in 
19which the building project is located. To document the 
20exemption allowed under this Section, the retailer must obtain 
21from the purchaser a copy of the Certificate of Eligibility for 
22Sales Tax Exemption issued by the corporate authorities of the 
23municipality in which the real estate into which the building 
 
 
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1materials will be incorporated is located. The Certificate of 
2Eligibility for Sales Tax Exemption must contain all of the 
3following:
4        (1) A statement that the commercial or industrial 
5    project identified in the Certificate meets all the 
6    requirements of the jurisdiction in which the project is 
7    located.
8        (2) The location or address of the building project.
9        (3) The signature of the chief executive officer of the 
10    municipality in which the building project is located, or 
11    the chief executive officer's delegate.
12    In addition, the retailer must obtain a certificate from 
13the purchaser that contains all of the following:
14        (1) A statement that the building materials are being 
15    purchased for incorporation into real estate located in a 
16    River Edge Redevelopment Zone included in a redevelopment 
17    project area in accordance with River Edge Redevelopment 
18    Zone Act.
19        (2) The location or address of the real estate into 
20    which the building materials will be incorporated.
21        (3) The name of the River Edge Redevelopment Zone in 
22    which that real estate is located.
23        (4) A description of the building materials being 
24    purchased.
25        (5) The purchaser's signature and date of purchase.
26    The provisions of this Section are exempt from Section 
 
 
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12-70.

2(Source: P.A. 94-1021, eff. 7-12-06.)
 

3    Section 99. Effective date. This Act takes effect upon 
4becoming law.