WALSH,L AND HALVORSON.
USE-OCC TAX-TAX HOLIDAY
Synopsis of Bill as introduced:
Amends the Use Tax Act, the Service Use Tax Act, the Service
Occupation Tax Act, and the Retailers' Occupation Tax Act.
Eliminates, from August 1 through August 8 each year, the State's
portion of the tax with respect to "school supplies", which include
(i) clothing having a selling price of $100 or less, (ii) wallets
having a selling price of $100 or less, (iii) bags having a selling
price of $100 or less, (iv) other supplies, except calculators, having
a selling price of $10 or less, and (v) calculators having a selling
price of $100 or less. Exempts the tax elimination from the sunset
provisions. Amends the State Finance Act to account for the
distribution of the reduced tax. Effective immediately.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status