USE & OCC TAX-SUSPEND DISCOUNT House SponsorsRep. Larry McKeon 1/11/2005HouseSession Sine Die 35 ILCS 105/9from Ch. 120, par. 439.935 ILCS 110/9from Ch. 120, par. 439.3935 ILCS 115/9from Ch. 120, par. 439.10935 ILCS 120/3from Ch. 120, par. 442 Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on January 1, 2004 and through December 31, 2008, a retailer or serviceman is allowed to take the 1.75% or $5 discount, as appropriate, for the first $1,000,000 in taxes collected in the aggregate in a calendar year under each of the 4 Acts to reimburse himself or herself for expenses incurred in collecting the tax, keeping records, preparing and filing returns, remitting the tax, and supplying data to the Department of Revenue on request. No discount may be taken during that period for taxes collected above $1,000,000 in the aggregate in a calendar year under the 4 Acts. Effective immediately.Fiscal Note (Illinois Department of Revenue) HB 270 will have a positive impact to the State of an undetermined amount. In fiscal year 2001, the Retailers' Discount cost the State approximately $102 million. 1/23/2003HouseFiled with the Clerk by Rep. Larry McKeon 1/23/2003HouseFirst Reading 1/23/2003HouseReferred to Rules Committee 1/29/2003HouseAssigned to Commerce and Business Development Committee 2/11/2003HouseFiscal Note Filed 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 3/13/2003HouseRule 19(a) / Re-referred to Rules Committee 1/11/2005HouseSession Sine Die