PETERSON-CULLERTON. 35 ILCS 735/3-2 from Ch. 120, par. 2603-2 35 ILCS 735/3-3 from Ch. 120, par. 2603-3 35 ILCS 735/3-10 from Ch. 120, par. 2603-10 Amends the Uniform Penalty and Interest Act. Provides that interest shall accrue upon tax due (now, upon tax and penalty due). Provides that for failure to file a tax return on or before the due date, a penalty shall be imposed equal to 2% of the tax required to be shown due on a return, up to a maximum amount of $250, reduced by any (rather than determined without regard to any part of the) tax that is paid on time or by any credit that was properly allowable on the date the return was required to be filed. Imposes a penalty of 10% of the tax due in the situation of late payment or nonpayment of admitted liability and a penalty of 20% of the tax due in a situation of late payment of nonpayment of additional liability (now, 20% in both situations). Provides that a tax may not be assessed more than 6 years after the original due date of each return required to have been filed, except in the case of a willful failure to file (now, may be assessed at any time unless the taxpayer shows reasonable cause for failure, in which case it is not more than 6 years after the original due date). Removes provision exempting the Department of Revenue from the application of the 6-year limitation on assessment if the Department notifies a person that a return is required within that 6-year period. 00-01-13 S FIRST READING 00-01-13 S REFERRED TO SENATE RULES COMMITTEE RULES 00-01-19 S SPONSOR REMOVED SULLIVAN 00-01-19 S CHIEF SPONSOR CHANGED TO PETERSON 01-01-09 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary