Full Text of SB0515 99th General Assembly
SB0515 99TH GENERAL ASSEMBLY
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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB0515 Introduced 1/28/2015, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
| | 35 ILCS 605/18 | from Ch. 120, par. 373 |
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Amends the Illinois Central Railroad Tax Act. Makes a technical change in a Section
imposing the tax.
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| | A BILL FOR |
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| | | SB0515 | | LRB099 03066 HLH 23074 b |
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| | 1 | | AN ACT concerning revenue.
| | 2 | | Be it enacted by the People of the State of Illinois, | | 3 | | represented in the General Assembly:
| | 4 | | Section 5. The Illinois Central Railroad Tax Act is amended | | 5 | | by changing Section 18 as follows:
| | 6 | | (35 ILCS 605/18) (from Ch. 120, par. 373)
| | 7 | | Sec. 18.
In consideration of the
the grants, privileges and | | 8 | | franchises herein
conferred upon said company for the purposes | | 9 | | aforesaid, the said company
shall, on the first Mondays of | | 10 | | December and June in each year, pay to the
Department of | | 11 | | Revenue of the State of Illinois five per centum on the gross
| | 12 | | or total proceeds, receipts or income derived from said road | | 13 | | and branches,
for the six months then next preceding. The first | | 14 | | payment of such
percentage on the main trunk of said road to | | 15 | | commence four years from the
date of said deed of trust, and on | | 16 | | the branches, six years from the date
aforesaid, unless said | | 17 | | road and branches are sooner completed, then from
the date of | | 18 | | completion. And for the purpose of ascertaining the proceeds,
| | 19 | | receipts or income aforesaid, an accurate account shall be kept | | 20 | | by said
company, a copy whereof shall be furnished to the | | 21 | | Governor of the State of
Illinois and to the Department of | | 22 | | Revenue; the truth of which account shall
be verified by the | | 23 | | affidavits of the treasurer and secretary of such
company. And |
| | | SB0515 | - 2 - | LRB099 03066 HLH 23074 b |
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| | 1 | | for the purpose of verifying and ascertaining the accuracy of
| | 2 | | such account, full power is hereby vested in the Governor of | | 3 | | the State of
Illinois, the Director of the Department of | | 4 | | Revenue, or any other person by
law appointed, to examine the | | 5 | | books and papers of said corporation, and to
examine, under | | 6 | | oath, the officers, agents and employees of said company,
and | | 7 | | other persons. And if any person, so examined by the Governor | | 8 | | or other
authority, shall knowingly and wilfully swear falsely, | | 9 | | or if the other
officers making such affidavits shall knowingly | | 10 | | and wilfully swear falsely,
every such person shall be subject | | 11 | | to the pains and penalties of perjury. | | 12 | | (Source: P.A. 76-117.)
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