SB2281 95TH GENERAL ASSEMBLY

LRB095 15048 BDD 41006 b

95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
SB2281

Introduced 2/14/2008, by Sen. Pamela J. Althoff

SYNOPSIS AS INTRODUCED:

35 ILCS 171/15 new

Amends the Simplified Sales and Use Tax Administration Act. Requires the Department of Revenue, in consultation with the Commission on Government Forecasting and Accountability, to prepare and deliver a report to the General Assembly on the effect of the State's participation in the Streamlined Sales and Use Tax Agreement and on any pending or proposed legislation concerning the Agreement. Sets forth the requirements for the report. Requires that the report be delivered within 60 days after the effective date of this amendatory Act. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning State government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Simplified Sales and Use Tax Administration Act is amended by adding Section 15 as follows:

(35 ILCS 171/15 new)

Sec. 15. Report on participation in Agreement.

(a) The Department, in consultation with the Commission on Government Forecasting and Accountability, shall prepare and deliver a report to the General Assembly on the effect of the State's participation in the Agreement and on any pending or proposed legislation concerning the Agreement. The report must include, without limitation, detailed descriptions and projections concerning the Agreement's impact on the following:

(1) the amount of tax revenue received by the State and by local governments;

(2) the effect on allocations of tax revenue to local governments due to the destination-sourcing provisions of the Agreement;

(3) the effect on allocations of tax revenue to local governments due to any changes to local tax bases under the Agreement;

(4) the level of costs of collection by retailers;

(5) the level of the retailers' discount; and

(6) taxes collected in special business districts and districts under tax increment financing.

(b) The report under this Section must be delivered within 60 days after the effective date of this amendatory Act of the 95th General Assembly.

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