Bill Status of SB2516 97th General Assembly
Short Description: USE/OCC TAX-FUEL-CAPITAL
Sen. Kirk W. Dillard - Chris Lauzen - Ron Sandack
| 1/8/2013||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
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 the Department shall pay into the Capital Projects Fund 80% of the net revenue realized for the preceding month from the 6.25% general rate on the selling price of motor fuel and gasohol. Provides that, if in any month deposits into the Capital Projects Fund from the 6.25% general rate on the selling price of motor fuel and gasohol would cause the balance in the Capital Projects Fund to meet or exceed the amount necessary for payment of debt service on bonds issued for capital projects, then the amount of the deposit that exceeds the debt service obligations shall be deposited into the Road Fund. Repeals the Video Gaming Act and makes conforming changes. Contains an inseverability clause. Effective immediately.