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| [ Engrossed ] | [ Enrolled ] | [ Senate Amendment 001 ] |
92_SB1760
LRB9215394SMdv
1 AN ACT concerning taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Retailers' Occupation Tax Act is amended
5 by changing Section 5k as follows:
6 (35 ILCS 120/5k) (from Ch. 120, par. 444k)
7 Sec. 5k. Building materials used in enterprise zone.
8 Each retailer who makes a sale of building materials to be
9 incorporated into real estate in an enterprise zone
10 established by a county or municipality under the Illinois
11 Enterprise Zone Act by remodeling, rehabilitation or new
12 construction, must may deduct receipts from such sales when
13 calculating the tax imposed by this Act. The deduction
14 allowed by this Section for the sale of building materials
15 may be limited, to the extent authorized by ordinance,
16 adopted after the effective date of this amendatory Act of
17 1992, by the municipality or county that created the
18 enterprise zone in which the retailer's place of business is
19 located. The corporate authorities of any municipality or
20 county that adopts an ordinance or resolution imposing or
21 changing any limitation on the enterprise zone exemption for
22 building materials shall transmit to the Department of
23 Revenue on or not later than 5 days after publication, as
24 provided by law, a certified copy of the ordinance or
25 resolution imposing or changing those limitations, whereupon
26 the Department of Revenue shall proceed to administer and
27 enforce those limitations effective the first day of the
28 second calendar month next following date of receipt by the
29 Department of the certified ordinance or resolution. The
30 provisions of this Section are exempt from Section 2-70.
31 (Source: P.A. 91-51, eff. 6-30-99; 91-954, eff. 1-1-02;
-2- LRB9215394SMdv
1 92-484, eff. 8-23-01.)
2 Section 90. The State Mandates Act is amended by adding
3 Section 8.26 as follows:
4 (30 ILCS 805/8.26 new)
5 Sec. 8.26. Exempt mandate. Notwithstanding Sections 6
6 and 8 of this Act, no reimbursement by the State is required
7 for the implementation of any mandate created by this
8 amendatory Act of the 92nd General Assembly.
9 (Source: P.A. 91-51, eff. 6-30-99; 91-954, eff. 1-1-02;
10 92-484, eff. 8-23-01.)
11 Section 99. Effective date. This Act takes effect upon
12 becoming law.