[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
|[ Engrossed ]||[ Enrolled ]||[ House Amendment 001 ]|
|[ House Amendment 003 ]||[ House Amendment 005 ]||[ Conference Committee Report 001 ]|
91_SB1707 LRB9112999SMdv 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. Each retailer in Illinois
whose place a9 business is within a county or municipality which has10 established an Enterprise Zone pursuant to the "Illinois11 Enterprise Zone Act" andwho makes a sale of building 12 materials to be incorporated into real estate in an such13 enterprise zone established by a county or municipality under 14 the Illinois Enterprise Zone Act by remodeling, 15 rehabilitation or new construction, may deduct receipts from 16 such sales when calculating the tax imposed by this Act. The 17 deduction allowed by this Section for the sale of building 18 materials may be limited, to the extent authorized by 19 ordinance, adopted after the effective date of this 20 amendatory Act of 1992, by the municipality or county that 21 created the enterprise zone in which the retailers' place of 22 business is located. The corporate authorities of any 23 municipality or county that adopts an ordinance or resolution 24 imposing or changing any limitation on the enterprise zone 25 exemption for building materials shall transmit to the 26 Department of Revenue on or not later than 5 days after 27 publication, as provided by law, a certified copy of the 28 ordinance or resolution imposing or changing those 29 limitations, whereupon the Department of Revenue shall 30 proceed to administer and enforce those limitations effective 31 the first day of the second calendar month next following -2- LRB9112999SMdv 1 date of receipt by the Department of the certified ordinance 2 or resolution. The provisions of this Section are exempt 3 from Section 2-70. 4 (Source: P.A. 91-51, eff. 6-30-99.) 5 Section 90. The State Mandates Act is amended by adding 6 Section 8.24 as follows: 7 (30 ILCS 805/8.24 new) 8 Sec. 8.24. Exempt mandate. Notwithstanding Sections 6 9 and 8 of this Act, no reimbursement by the State is required 10 for the implementation of any mandate created by this 11 amendatory Act of the 91st General Assembly.
[ Top ]