Illinois General Assembly - Bill Status for SB2627

Creates the Truth in Pumping Act. Provides that, within 3 months after the effective date of the Act, each retailer of motor fuel shall post a notice in a prominently visible place on each retail dispensing device that is used to dispense motor fuel in Illinois itemizing each federal, State, and local tax imposed on motor fuel at that location. Provides that, for taxes that are imposed on a per-gallon basis, the notice shall state how many cents per gallon are imposed in taxes, broken down by each tax imposed, and that, for taxes that are imposed on gross receipts, the notice shall state how many cents per dollar are imposed in taxes, broken down by each tax imposed. Provides that, in addition, the notice shall give an estimate of the total cost in federal, State, and local taxes for the purchase of 5, 10, and 15 gallons of motor fuel at that location. Preempts home rule. Effective immediately.

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