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Full Text of SB0042  100th General Assembly

SB0042sam003 100TH GENERAL ASSEMBLY

Sen. Andy Manar

Filed: 5/23/2017

 

 


 

 


 
10000SB0042sam003LRB100 04925 JWD 26904 a

1
AMENDMENT TO SENATE BILL 42

2    AMENDMENT NO. ______. Amend Senate Bill 42, AS AMENDED,
3with reference to page and line numbers of Senate Amendment No.
42, on page 36, deletes line 10; and
 
5replaces from line 19, on page 108, through line 16, on page
6109, with the following:
 
7    "(2) Except as otherwise provided in paragraph (4), on On
8the first day of the month following the effective date of this
9amendatory Act of the 95th General Assembly and each month
10thereafter, upon certification by the Department of Revenue,
11the Comptroller shall order transferred and the Treasurer shall
12transfer from the General Revenue Fund to the Public
13Transportation Fund an amount equal to 5% of the net revenue,
14before the deduction of the serviceman and retailer discounts
15pursuant to Section 9 of the Service Occupation Tax Act and
16Section 3 of the Retailers' Occupation Tax Act, realized from

 

 

10000SB0042sam003- 2 -LRB100 04925 JWD 26904 a

1any tax imposed by the Authority pursuant to Sections 4.03 and
24.03.1 and certified by the Department of Revenue under Section
34.03(n) of this Act to be paid to the Authority and 5% of the
4amounts deposited into the Regional Transportation Authority
5tax fund created by Section 4.03 of this Act from the County
6and Mass Transit District Fund as provided in Section 6z-20 of
7the State Finance Act, and 5% of the amounts deposited into the
8Regional Transportation Authority Occupation and Use Tax
9Replacement Fund from the State and Local Sales Tax Reform Fund
10as provided in Section 6z-17 of the State Finance Act, and 5%
11of the revenue realized by the Chicago Transit Authority as
12financial assistance from the City of Chicago from the proceeds
13of any tax imposed by the City of Chicago under Section 8-3-19
14of the Illinois Municipal Code.".