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91_SB0830
LRB9106021PTpk
1 AN ACT to amend the Retailers' Occupation Tax Act by
2 changing Section 5k.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Retailers' Occupation Tax Act is amended
6 by changing Section 5k as follows:
7 (35 ILCS 120/5k) (from Ch. 120, par. 444k)
8 Sec. 5k. Enterprise zone. If Each retailer whose place
9 a business is within a county or municipality which has
10 established an Enterprise Zone pursuant to the "Illinois
11 Enterprise Zone Act" and a retailer who makes a sale of
12 building materials to be incorporated into real estate in
13 such enterprise zone by remodeling, rehabilitation or new
14 construction, then the retailer may deduct receipts from such
15 sales when calculating the tax imposed by this Act. The
16 retailer's place of business does not have to be located in
17 the county or municipality that established the enterprise
18 zone or in the enterprise zone to receive the deduction
19 allowed under this Section. The deduction allowed by this
20 Section for the sale of building materials may be limited, to
21 the extent authorized by ordinance, adopted after the
22 effective date of this amendatory Act of 1992, by the
23 municipality or county that created the enterprise zone. The
24 corporate authorities of any municipality or county that
25 adopts an ordinance or resolution imposing or changing any
26 limitation on the enterprise zone exemption for building
27 materials shall transmit to the Department of Revenue on or
28 not later than 5 days after publication, as provided by law,
29 a certified copy of the ordinance or resolution imposing or
30 changing those limitations, whereupon the Department of
31 Revenue shall proceed to administer and enforce those
-2- LRB9106021PTpk
1 limitations effective the first day of the second calendar
2 month next following date of receipt by the Department of the
3 certified ordinance or resolution.
4 (Source: P.A. 87-848.)
5 Section 99. Effective date. This Act takes effect upon
6 becoming law.