State of Illinois
91st General Assembly
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Public Act 91-0596

SB946 Enrolled                                 LRB9106128REpk

    AN ACT to amend the  Gas  Revenue  Tax  Act  by  changing
Section 2a.1.

    Be  it  enacted  by  the People of the State of Illinois,
represented in the General Assembly:

    Section 5.   The  Gas  Revenue  Tax  Act  is  amended  by
changing Section 2a.1 as follows:

    (35 ILCS 615/2a.1) (from Ch. 120, par. 467.17a.1)
    Sec.  2a.1.   Imposition  of tax on invested capital.  In
addition to the taxes imposed by the Illinois Income Tax  Act
and  Section  2  of  this  Act,  there is hereby imposed upon
persons engaged in the business of  distributing,  supplying,
furnishing  or  selling gas and subject to the tax imposed by
this Act (other than a  school  district  or  unit  of  local
government  as  defined  in  Section  1 of Article VII of the
Illinois Constitution of  1970),  an  additional  tax  in  an
amount equal to .8% of such persons' invested capital for the
taxable  period.   If  such  persons  are not liable for such
additional tax for the entire taxable period, such additional
tax shall be computed on the portion of  the  taxable  period
during  which  such  persons  were liable for such additional
tax. The invested capital tax imposed by this  Section  shall
not  be  imposed  upon  persons  who are not regulated by the
Illinois Commerce Commission. Provided, in the  case  of  any
person  which  is subject to the invested capital tax imposed
by this Section and which is also subject to the tax  on  the
distribution  of  electricity  imposed by Section 2a.1 of the
Public Utilities Revenue Act, for taxable  periods  beginning
on or after January 1, 1998, the invested capital tax imposed
by this Section shall be the lesser of (i) an amount equal to
0.8% of such person's invested capital for the taxable period
multiplied  by  a  fraction  the  numerator  of  which is the
average of the beginning and ending balances of such person's
gross gas utility plant in service  and  the  denominator  of
which  is the average of the beginning and ending balances of
such  person's  gross  electric  and  gas  utility  plant  in
service, as set forth in such person's annual report  to  the
Illinois  Commerce Commission for the taxable period, or (ii)
an amount equal to 0.8% of the person's invested capital  for
the  taxable  period  ended December 31, 1996 multiplied by a
fraction the  numerator  of  which  is  the  average  of  the
beginning  and  ending  balances  of  the  person's gross gas
utility plant in service and the denominator of which is  the
average  of the beginning and ending balances of the person's
gross electric and gas utility plant in service as set  forth
in  the  person's  annual  report  to  the  Illinois Commerce
Commission for the taxable period  ended  December  31,  1996
modified by an adjustment factor.  The adjustment factor is a
ratio  the numerator of which is the average of the beginning
and ending balances  of  the  person's  gross  gas  plant  in
service  for the taxable period  and the denominator of which
is the average of the beginning and ending  balances  of  the
person's  gross  gas  plant in service for the taxable period
ended December 31, 1996, as set forth in the person's  annual
reports  to the Illinois Commerce Commission for such taxable
periods.
(Source: P.A. 90-561, eff. 1-1-98.).

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