98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB2558

 

Introduced , by Rep. John E. Bradley

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 620/2a.1  from Ch. 120, par. 469a.1

    Amends the Public Utilities Revenue Act. Provides that a provision of the Act requiring the Department to issue credits to taxpayers if the total amount received by the Department exceeds $145,279,553 plus an amount equal to the lesser of (i) 5% or (ii) the percentage increase in the Consumer Price Index during the immediately preceding taxable period of the total amount received by the Department for the immediately preceding taxable period applies only for taxable periods ending on or before December 31, 2012. Effective immediately.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2558LRB098 10529 HLH 40767 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 Public Utilities Revenue Act is amended by
5changing Section 2a.1 as follows:
 
6    (35 ILCS 620/2a.1)  (from Ch. 120, par. 469a.1)
7    Sec. 2a.1. Imposition of tax on invested capital and on
8distribution of electricity.
9    (a) In addition to the tax imposed by the Illinois Income
10Tax Act, there is hereby imposed upon every taxpayer (other
11than an electric cooperative, a school district or unit of
12local government as defined in Section 1 of Article VII of the
13Illinois Constitution of 1970), an additional tax as follows:
14        (i) For the first 500,000,000 kilowatt-hours
15    distributed by the taxpayer in this State during the
16    taxable period, 0.031 cents per kilowatt-hour;
17        (ii) For the next 1,000,000,000 kilowatt-hours
18    distributed by the taxpayer in this State during the
19    taxable period, 0.050 cents per kilowatt-hour;
20        (iii) For the next 2,500,000,000 kilowatt-hours
21    distributed by the taxpayer in this State during the
22    taxable period, 0.070 cents per kilowatt-hour;
23        (iv) For the next 4,000,000,000 kilowatt-hours

 

 

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1    distributed by the taxpayer in this State during the
2    taxable period, 0.140 cents per kilowatt-hour;
3        (v) For the next 7,000,000,000 kilowatt-hours
4    distributed by the taxpayer in this State during the
5    taxable period, 0.180 cents per kilowatt-hour;
6        (vi) For the next 3,000,000,000 kilowatt-hours
7    distributed by the taxpayer in this State during the
8    taxable period, 0.142 cents per kilowatt-hour; and
9        (vii) For all kilowatt-hours distributed by the
10    taxpayer in this State during the taxable period in excess
11    of 18,000,000,000 kilowatt-hours, 0.131 cents per
12    kilowatt-hour.
13    (b) There is imposed on electric cooperatives that are
14required to file reports with the Rural Utilities Service a tax
15equal to 0.8% of such cooperative's invested capital for the
16taxable period. The invested capital tax imposed by this
17subsection shall not be imposed on electric cooperatives not
18required to file reports with the Rural Utilities Service.
19    (c) If, for any taxable period ending on or before December
2031, 2012, the total amount received by the Department from the
21tax imposed by subsection (a) exceeds $145,279,553 plus, for
22taxable periods subsequent to 1998, an amount equal to the
23lesser of (i) 5% or (ii) the percentage increase in the
24Consumer Price Index during the immediately preceding taxable
25period, of the total amount received by the Department from the
26tax imposed by subsection (a) for the immediately preceding

 

 

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1taxable period, determined after allowance of the credit
2provided for in this subsection, the Department shall issue
3credit memoranda in the aggregate amount of the excess to each
4of the taxpayers who paid any amount of tax under subsection
5(a) for that taxable period in the proportion which the amount
6paid by the taxpayer bears to the total amount paid by all such
7taxpayers. This calculation shall be made as of December 1 of
8the year following the immediately preceding taxable period and
9shall consist of only those returns with payment then on file
10with the Department. All future amendments to returns and
11monies covering this period received after December 1 of the
12year following the taxable period will not be included in the
13calculation of the affected taxable period or any other taxable
14period. The provisions of this subsection are not subject to
15the Uniform Penalty and Interest Act. Any credit memorandum
16issued to a taxpayer under this subsection may be used as a
17credit by the taxpayer against its liability in future taxable
18periods for tax under subsection (a). Any amount credited to a
19taxpayer shall not be refunded to the taxpayer unless the
20taxpayer demonstrates to the reasonable satisfaction of the
21Department that it will not incur future liability for tax
22under subsection (a). The Department shall adopt reasonable
23regulations for the implementation of the provisions of this
24subsection.
25(Source: P.A. 90-561, eff. 1-1-98; 90-624, eff. 7-10-98;
2691-357, eff. 7-29-99.)
 

 

 

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1    Section 99. Effective date. This Act takes effect upon
2becoming law.