Illinois General Assembly - Bill Status for HB0270

Synopsis As Introduced
Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2004 and through December 31, 2008, a retailer or serviceman is allowed to take the 1.75% or $5 discount, as appropriate, for the first $1,000,000 in taxes collected in the aggregate in a calendar year under each of the 4 Acts to reimburse himself or herself for expenses incurred in collecting the tax, keeping records, preparing and filing returns, remitting the tax, and supplying data to the Department of Revenue on request. No discount may be taken during that period for taxes collected above $1,000,000 in the aggregate in a calendar year under the 4 Acts. Effective immediately.

	Fiscal Note (Illinois Department of Revenue)
	HB 270 will have a positive impact to the State of an undetermined amount. In fiscal year 2001, the Retailers' Discount cost the State approximately $102 million.

Actions

Date	Chamber	Action
1/23/2003	House	Filed with the Clerk by Rep. Larry McKeon
1/23/2003	House	First Reading
1/23/2003	House	Referred to Rules Committee
1/29/2003	House	Assigned to Commerce and Business Development Committee
2/11/2003	House	Fiscal Note Filed
3/13/2003	House	Rule 19(a) / Re-referred to Rules Committee
3/13/2003	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2005	House	Session Sine Die

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