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Public Act 91-0101
SB1010 Enrolled SRS91SB0007ABge
AN ACT concerning the Metropolitan Pier and Exposition
Authority, amending named Acts.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Finance Act is amended by changing
Section 8.25f as follows:
(30 ILCS 105/8.25f) (from Ch. 127, par. 144.25f)
Sec. 8.25f. McCormick Place Expansion Project Fund.
(a) Deposits. The following amounts shall be deposited
into the McCormick Place Expansion Project Fund in the State
Treasury: (i) the moneys required to be deposited into the
Fund under Section 9 of the Use Tax Act, Section 9 of the
Service Occupation Tax Act, Section 9 of the Service Use Tax
Act, and Section 3 of the Retailers' Occupation Tax Act and
(ii) the moneys required to be deposited into the Fund under
Section 13 of the Metropolitan Pier and Exposition Authority
Act. Notwithstanding the foregoing, the maximum amount that
may be deposited into the McCormick Place Expansion Project
Fund from item (i) shall not exceed the following amounts
with respect to the following fiscal years:
Fiscal Year Total Deposit
1993 $0
1994 53,000,000
1995 58,000,000
1996 61,000,000
1997 64,000,000
1998 68,000,000
1999 71,000,000
2000 75,000,000
2001 80,000,000
2002 84,000,000
2003 89,000,000
2004 93,000,000
2005 97,000,000
2006 102,000,000
2007 and 108,000,000 106,000,000
2008 115,000,000
2009 120,000,000
2010 126,000,000
2011 132,000,000
2012 138,000,000
2013 and 145,000,000
each fiscal year
thereafter that bonds are
outstanding under Section
13.2 of the Metropolitan Pier
and Exposition Authority Act,
but not after fiscal year 2029.
Provided that all amounts deposited in the Fund and
requested in the Authority's certificate have been paid to
the Authority, all amounts remaining in the McCormick Place
Expansion Project Fund on the last day of any month shall be
transferred to the General Revenue Fund.
(b) Authority certificate. Beginning with fiscal year
1994 and continuing for each fiscal year thereafter, the
Chairman of the Metropolitan Pier and Exposition Authority
shall annually certify to the State Comptroller and the State
Treasurer the amount necessary and required, during the
fiscal year with respect to which the certification is made,
to pay the debt service requirements (including amounts to be
paid with respect to arrangements to provide additional
security or liquidity) on all outstanding bonds and notes,
including refunding bonds, (collectively referred to as
"bonds") in an amount issued by the Authority pursuant to
Section 13.2 of the Metropolitan Pier and Exposition
Authority Act. The certificate may be amended from time to
time as necessary.
(Source: P.A. 90-612, eff. 7-8-98.)
Section 10. The Use Tax Act is amended by changing
Section 9 as follows:
(35 ILCS 105/9) (from Ch. 120, par. 439.9)
Sec. 9. Except as to motor vehicles, watercraft,
aircraft, and trailers that are required to be registered
with an agency of this State, each retailer required or
authorized to collect the tax imposed by this Act shall pay
to the Department the amount of such tax (except as otherwise
provided) at the time when he is required to file his return
for the period during which such tax was collected, less a
discount of 2.1% prior to January 1, 1990, and 1.75% on and
after January 1, 1990, or $5 per calendar year, whichever is
greater, which is allowed to reimburse the retailer for
expenses incurred in collecting the tax, keeping records,
preparing and filing returns, remitting the tax and supplying
data to the Department on request. In the case of retailers
who report and pay the tax on a transaction by transaction
basis, as provided in this Section, such discount shall be
taken with each such tax remittance instead of when such
retailer files his periodic return. A retailer need not
remit that part of any tax collected by him to the extent
that he is required to remit and does remit the tax imposed
by the Retailers' Occupation Tax Act, with respect to the
sale of the same property.
Where such tangible personal property is sold under a
conditional sales contract, or under any other form of sale
wherein the payment of the principal sum, or a part thereof,
is extended beyond the close of the period for which the
return is filed, the retailer, in collecting the tax (except
as to motor vehicles, watercraft, aircraft, and trailers that
are required to be registered with an agency of this State),
may collect for each tax return period, only the tax
applicable to that part of the selling price actually
received during such tax return period.
Except as provided in this Section, on or before the
twentieth day of each calendar month, such retailer shall
file a return for the preceding calendar month. Such return
shall be filed on forms prescribed by the Department and
shall furnish such information as the Department may
reasonably require.
The Department may require returns to be filed on a
quarterly basis. If so required, a return for each calendar
quarter shall be filed on or before the twentieth day of the
calendar month following the end of such calendar quarter.
The taxpayer shall also file a return with the Department for
each of the first two months of each calendar quarter, on or
before the twentieth day of the following calendar month,
stating:
1. The name of the seller;
2. The address of the principal place of business
from which he engages in the business of selling tangible
personal property at retail in this State;
3. The total amount of taxable receipts received by
him during the preceding calendar month from sales of
tangible personal property by him during such preceding
calendar month, including receipts from charge and time
sales, but less all deductions allowed by law;
4. The amount of credit provided in Section 2d of
this Act;
5. The amount of tax due;
5-5. The signature of the taxpayer; and
6. Such other reasonable information as the
Department may require.
If a taxpayer fails to sign a return within 30 days after
the proper notice and demand for signature by the Department,
the return shall be considered valid and any amount shown to
be due on the return shall be deemed assessed.
Beginning October 1, 1993, a taxpayer who has an average
monthly tax liability of $150,000 or more shall make all
payments required by rules of the Department by electronic
funds transfer. Beginning October 1, 1994, a taxpayer who has
an average monthly tax liability of $100,000 or more shall
make all payments required by rules of the Department by
electronic funds transfer. Beginning October 1, 1995, a
taxpayer who has an average monthly tax liability of $50,000
or more shall make all payments required by rules of the
Department by electronic funds transfer. The term "average
monthly tax liability" means the sum of the taxpayer's
liabilities under this Act, and under all other State and
local occupation and use tax laws administered by the
Department, for the immediately preceding calendar year
divided by 12.
Before August 1 of each year beginning in 1993, the
Department shall notify all taxpayers required to make
payments by electronic funds transfer. All taxpayers required
to make payments by electronic funds transfer shall make
those payments for a minimum of one year beginning on October
1.
Any taxpayer not required to make payments by electronic
funds transfer may make payments by electronic funds transfer
with the permission of the Department.
All taxpayers required to make payment by electronic
funds transfer and any taxpayers authorized to voluntarily
make payments by electronic funds transfer shall make those
payments in the manner authorized by the Department.
The Department shall adopt such rules as are necessary to
effectuate a program of electronic funds transfer and the
requirements of this Section.
If the taxpayer's average monthly tax liability to the
Department under this Act, the Retailers' Occupation Tax Act,
the Service Occupation Tax Act, the Service Use Tax Act was
$10,000 or more during the preceding 4 complete calendar
quarters, he shall file a return with the Department each
month by the 20th day of the month next following the month
during which such tax liability is incurred and shall make
payments to the Department on or before the 7th, 15th, 22nd
and last day of the month during which such liability is
incurred. If the month during which such tax liability is
incurred began prior to January 1, 1985, each payment shall
be in an amount equal to 1/4 of the taxpayer's actual
liability for the month or an amount set by the Department
not to exceed 1/4 of the average monthly liability of the
taxpayer to the Department for the preceding 4 complete
calendar quarters (excluding the month of highest liability
and the month of lowest liability in such 4 quarter period).
If the month during which such tax liability is incurred
begins on or after January 1, 1985, and prior to January 1,
1987, each payment shall be in an amount equal to 22.5% of
the taxpayer's actual liability for the month or 27.5% of the
taxpayer's liability for the same calendar month of the
preceding year. If the month during which such tax liability
is incurred begins on or after January 1, 1987, and prior to
January 1, 1988, each payment shall be in an amount equal to
22.5% of the taxpayer's actual liability for the month or
26.25% of the taxpayer's liability for the same calendar
month of the preceding year. If the month during which such
tax liability is incurred begins on or after January 1, 1988,
and prior to January 1, 1989, or begins on or after January
1, 1996, each payment shall be in an amount equal to 22.5% of
the taxpayer's actual liability for the month or 25% of the
taxpayer's liability for the same calendar month of the
preceding year. If the month during which such tax liability
is incurred begins on or after January 1, 1989, and prior to
January 1, 1996, each payment shall be in an amount equal to
22.5% of the taxpayer's actual liability for the month or 25%
of the taxpayer's liability for the same calendar month of
the preceding year or 100% of the taxpayer's actual liability
for the quarter monthly reporting period. The amount of such
quarter monthly payments shall be credited against the final
tax liability of the taxpayer's return for that month. Once
applicable, the requirement of the making of quarter monthly
payments to the Department shall continue until such
taxpayer's average monthly liability to the Department during
the preceding 4 complete calendar quarters (excluding the
month of highest liability and the month of lowest liability)
is less than $9,000, or until such taxpayer's average monthly
liability to the Department as computed for each calendar
quarter of the 4 preceding complete calendar quarter period
is less than $10,000. However, if a taxpayer can show the
Department that a substantial change in the taxpayer's
business has occurred which causes the taxpayer to anticipate
that his average monthly tax liability for the reasonably
foreseeable future will fall below $10,000, then such
taxpayer may petition the Department for change in such
taxpayer's reporting status. The Department shall change
such taxpayer's reporting status unless it finds that such
change is seasonal in nature and not likely to be long term.
If any such quarter monthly payment is not paid at the time
or in the amount required by this Section, then the taxpayer
shall be liable for penalties and interest on the difference
between the minimum amount due and the amount of such quarter
monthly payment actually and timely paid, except insofar as
the taxpayer has previously made payments for that month to
the Department in excess of the minimum payments previously
due as provided in this Section. The Department shall make
reasonable rules and regulations to govern the quarter
monthly payment amount and quarter monthly payment dates for
taxpayers who file on other than a calendar monthly basis.
If any such payment provided for in this Section exceeds
the taxpayer's liabilities under this Act, the Retailers'
Occupation Tax Act, the Service Occupation Tax Act and the
Service Use Tax Act, as shown by an original monthly return,
the Department shall issue to the taxpayer a credit
memorandum no later than 30 days after the date of payment,
which memorandum may be submitted by the taxpayer to the
Department in payment of tax liability subsequently to be
remitted by the taxpayer to the Department or be assigned by
the taxpayer to a similar taxpayer under this Act, the
Retailers' Occupation Tax Act, the Service Occupation Tax Act
or the Service Use Tax Act, in accordance with reasonable
rules and regulations to be prescribed by the Department,
except that if such excess payment is shown on an original
monthly return and is made after December 31, 1986, no credit
memorandum shall be issued, unless requested by the taxpayer.
If no such request is made, the taxpayer may credit such
excess payment against tax liability subsequently to be
remitted by the taxpayer to the Department under this Act,
the Retailers' Occupation Tax Act, the Service Occupation Tax
Act or the Service Use Tax Act, in accordance with reasonable
rules and regulations prescribed by the Department. If the
Department subsequently determines that all or any part of
the credit taken was not actually due to the taxpayer, the
taxpayer's 2.1% or 1.75% vendor's discount shall be reduced
by 2.1% or 1.75% of the difference between the credit taken
and that actually due, and the taxpayer shall be liable for
penalties and interest on such difference.
If the retailer is otherwise required to file a monthly
return and if the retailer's average monthly tax liability to
the Department does not exceed $200, the Department may
authorize his returns to be filed on a quarter annual basis,
with the return for January, February, and March of a given
year being due by April 20 of such year; with the return for
April, May and June of a given year being due by July 20 of
such year; with the return for July, August and September of
a given year being due by October 20 of such year, and with
the return for October, November and December of a given year
being due by January 20 of the following year.
If the retailer is otherwise required to file a monthly
or quarterly return and if the retailer's average monthly tax
liability to the Department does not exceed $50, the
Department may authorize his returns to be filed on an annual
basis, with the return for a given year being due by January
20 of the following year.
Such quarter annual and annual returns, as to form and
substance, shall be subject to the same requirements as
monthly returns.
Notwithstanding any other provision in this Act
concerning the time within which a retailer may file his
return, in the case of any retailer who ceases to engage in a
kind of business which makes him responsible for filing
returns under this Act, such retailer shall file a final
return under this Act with the Department not more than one
month after discontinuing such business.
In addition, with respect to motor vehicles, watercraft,
aircraft, and trailers that are required to be registered
with an agency of this State, every retailer selling this
kind of tangible personal property shall file, with the
Department, upon a form to be prescribed and supplied by the
Department, a separate return for each such item of tangible
personal property which the retailer sells, except that
where, in the same transaction, a retailer of aircraft,
watercraft, motor vehicles or trailers transfers more than
one aircraft, watercraft, motor vehicle or trailer to another
aircraft, watercraft, motor vehicle or trailer retailer for
the purpose of resale, that seller for resale may report the
transfer of all the aircraft, watercraft, motor vehicles or
trailers involved in that transaction to the Department on
the same uniform invoice-transaction reporting return form.
For purposes of this Section, "watercraft" means a Class 2,
Class 3, or Class 4 watercraft as defined in Section 3-2 of
the Boat Registration and Safety Act, a personal watercraft,
or any boat equipped with an inboard motor.
The transaction reporting return in the case of motor
vehicles or trailers that are required to be registered with
an agency of this State, shall be the same document as the
Uniform Invoice referred to in Section 5-402 of the Illinois
Vehicle Code and must show the name and address of the
seller; the name and address of the purchaser; the amount of
the selling price including the amount allowed by the
retailer for traded-in property, if any; the amount allowed
by the retailer for the traded-in tangible personal property,
if any, to the extent to which Section 2 of this Act allows
an exemption for the value of traded-in property; the balance
payable after deducting such trade-in allowance from the
total selling price; the amount of tax due from the retailer
with respect to such transaction; the amount of tax collected
from the purchaser by the retailer on such transaction (or
satisfactory evidence that such tax is not due in that
particular instance, if that is claimed to be the fact); the
place and date of the sale; a sufficient identification of
the property sold; such other information as is required in
Section 5-402 of the Illinois Vehicle Code, and such other
information as the Department may reasonably require.
The transaction reporting return in the case of
watercraft and aircraft must show the name and address of the
seller; the name and address of the purchaser; the amount of
the selling price including the amount allowed by the
retailer for traded-in property, if any; the amount allowed
by the retailer for the traded-in tangible personal property,
if any, to the extent to which Section 2 of this Act allows
an exemption for the value of traded-in property; the balance
payable after deducting such trade-in allowance from the
total selling price; the amount of tax due from the retailer
with respect to such transaction; the amount of tax collected
from the purchaser by the retailer on such transaction (or
satisfactory evidence that such tax is not due in that
particular instance, if that is claimed to be the fact); the
place and date of the sale, a sufficient identification of
the property sold, and such other information as the
Department may reasonably require.
Such transaction reporting return shall be filed not
later than 20 days after the date of delivery of the item
that is being sold, but may be filed by the retailer at any
time sooner than that if he chooses to do so. The
transaction reporting return and tax remittance or proof of
exemption from the tax that is imposed by this Act may be
transmitted to the Department by way of the State agency with
which, or State officer with whom, the tangible personal
property must be titled or registered (if titling or
registration is required) if the Department and such agency
or State officer determine that this procedure will expedite
the processing of applications for title or registration.
With each such transaction reporting return, the retailer
shall remit the proper amount of tax due (or shall submit
satisfactory evidence that the sale is not taxable if that is
the case), to the Department or its agents, whereupon the
Department shall issue, in the purchaser's name, a tax
receipt (or a certificate of exemption if the Department is
satisfied that the particular sale is tax exempt) which such
purchaser may submit to the agency with which, or State
officer with whom, he must title or register the tangible
personal property that is involved (if titling or
registration is required) in support of such purchaser's
application for an Illinois certificate or other evidence of
title or registration to such tangible personal property.
No retailer's failure or refusal to remit tax under this
Act precludes a user, who has paid the proper tax to the
retailer, from obtaining his certificate of title or other
evidence of title or registration (if titling or registration
is required) upon satisfying the Department that such user
has paid the proper tax (if tax is due) to the retailer. The
Department shall adopt appropriate rules to carry out the
mandate of this paragraph.
If the user who would otherwise pay tax to the retailer
wants the transaction reporting return filed and the payment
of tax or proof of exemption made to the Department before
the retailer is willing to take these actions and such user
has not paid the tax to the retailer, such user may certify
to the fact of such delay by the retailer, and may (upon the
Department being satisfied of the truth of such
certification) transmit the information required by the
transaction reporting return and the remittance for tax or
proof of exemption directly to the Department and obtain his
tax receipt or exemption determination, in which event the
transaction reporting return and tax remittance (if a tax
payment was required) shall be credited by the Department to
the proper retailer's account with the Department, but
without the 2.1% or 1.75% discount provided for in this
Section being allowed. When the user pays the tax directly
to the Department, he shall pay the tax in the same amount
and in the same form in which it would be remitted if the tax
had been remitted to the Department by the retailer.
Where a retailer collects the tax with respect to the
selling price of tangible personal property which he sells
and the purchaser thereafter returns such tangible personal
property and the retailer refunds the selling price thereof
to the purchaser, such retailer shall also refund, to the
purchaser, the tax so collected from the purchaser. When
filing his return for the period in which he refunds such tax
to the purchaser, the retailer may deduct the amount of the
tax so refunded by him to the purchaser from any other use
tax which such retailer may be required to pay or remit to
the Department, as shown by such return, if the amount of the
tax to be deducted was previously remitted to the Department
by such retailer. If the retailer has not previously
remitted the amount of such tax to the Department, he is
entitled to no deduction under this Act upon refunding such
tax to the purchaser.
Any retailer filing a return under this Section shall
also include (for the purpose of paying tax thereon) the
total tax covered by such return upon the selling price of
tangible personal property purchased by him at retail from a
retailer, but as to which the tax imposed by this Act was not
collected from the retailer filing such return, and such
retailer shall remit the amount of such tax to the Department
when filing such return.
If experience indicates such action to be practicable,
the Department may prescribe and furnish a combination or
joint return which will enable retailers, who are required to
file returns hereunder and also under the Retailers'
Occupation Tax Act, to furnish all the return information
required by both Acts on the one form.
Where the retailer has more than one business registered
with the Department under separate registration under this
Act, such retailer may not file each return that is due as a
single return covering all such registered businesses, but
shall file separate returns for each such registered
business.
Beginning January 1, 1990, each month the Department
shall pay into the State and Local Sales Tax Reform Fund, a
special fund in the State Treasury which is hereby created,
the net revenue realized for the preceding month from the 1%
tax on sales of food for human consumption which is to be
consumed off the premises where it is sold (other than
alcoholic beverages, soft drinks and food which has been
prepared for immediate consumption) and prescription and
nonprescription medicines, drugs, medical appliances and
insulin, urine testing materials, syringes and needles used
by diabetics.
Beginning January 1, 1990, each month the Department
shall pay into the County and Mass Transit District Fund 4%
of the net revenue realized for the preceding month from the
6.25% general rate on the selling price of tangible personal
property which is purchased outside Illinois at retail from a
retailer and which is titled or registered by an agency of
this State's government.
Beginning January 1, 1990, each month the Department
shall pay into the State and Local Sales Tax Reform Fund, a
special fund in the State Treasury, 20% of the net revenue
realized for the preceding month from the 6.25% general rate
on the selling price of tangible personal property, other
than tangible personal property which is purchased outside
Illinois at retail from a retailer and which is titled or
registered by an agency of this State's government.
Beginning January 1, 1990, each month the Department
shall pay into the Local Government Tax Fund 16% of the net
revenue realized for the preceding month from the 6.25%
general rate on the selling price of tangible personal
property which is purchased outside Illinois at retail from a
retailer and which is titled or registered by an agency of
this State's government.
Of the remainder of the moneys received by the Department
pursuant to this Act, (a) 1.75% thereof shall be paid into
the Build Illinois Fund and (b) prior to July 1, 1989, 2.2%
and on and after July 1, 1989, 3.8% thereof shall be paid
into the Build Illinois Fund; provided, however, that if in
any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%,
as the case may be, of the moneys received by the Department
and required to be paid into the Build Illinois Fund pursuant
to Section 3 of the Retailers' Occupation Tax Act, Section 9
of the Use Tax Act, Section 9 of the Service Use Tax Act, and
Section 9 of the Service Occupation Tax Act, such Acts being
hereinafter called the "Tax Acts" and such aggregate of 2.2%
or 3.8%, as the case may be, of moneys being hereinafter
called the "Tax Act Amount", and (2) the amount transferred
to the Build Illinois Fund from the State and Local Sales Tax
Reform Fund shall be less than the Annual Specified Amount
(as defined in Section 3 of the Retailers' Occupation Tax
Act), an amount equal to the difference shall be immediately
paid into the Build Illinois Fund from other moneys received
by the Department pursuant to the Tax Acts; and further
provided, that if on the last business day of any month the
sum of (1) the Tax Act Amount required to be deposited into
the Build Illinois Bond Account in the Build Illinois Fund
during such month and (2) the amount transferred during such
month to the Build Illinois Fund from the State and Local
Sales Tax Reform Fund shall have been less than 1/12 of the
Annual Specified Amount, an amount equal to the difference
shall be immediately paid into the Build Illinois Fund from
other moneys received by the Department pursuant to the Tax
Acts; and, further provided, that in no event shall the
payments required under the preceding proviso result in
aggregate payments into the Build Illinois Fund pursuant to
this clause (b) for any fiscal year in excess of the greater
of (i) the Tax Act Amount or (ii) the Annual Specified Amount
for such fiscal year; and, further provided, that the amounts
payable into the Build Illinois Fund under this clause (b)
shall be payable only until such time as the aggregate amount
on deposit under each trust indenture securing Bonds issued
and outstanding pursuant to the Build Illinois Bond Act is
sufficient, taking into account any future investment income,
to fully provide, in accordance with such indenture, for the
defeasance of or the payment of the principal of, premium, if
any, and interest on the Bonds secured by such indenture and
on any Bonds expected to be issued thereafter and all fees
and costs payable with respect thereto, all as certified by
the Director of the Bureau of the Budget. If on the last
business day of any month in which Bonds are outstanding
pursuant to the Build Illinois Bond Act, the aggregate of the
moneys deposited in the Build Illinois Bond Account in the
Build Illinois Fund in such month shall be less than the
amount required to be transferred in such month from the
Build Illinois Bond Account to the Build Illinois Bond
Retirement and Interest Fund pursuant to Section 13 of the
Build Illinois Bond Act, an amount equal to such deficiency
shall be immediately paid from other moneys received by the
Department pursuant to the Tax Acts to the Build Illinois
Fund; provided, however, that any amounts paid to the Build
Illinois Fund in any fiscal year pursuant to this sentence
shall be deemed to constitute payments pursuant to clause (b)
of the preceding sentence and shall reduce the amount
otherwise payable for such fiscal year pursuant to clause (b)
of the preceding sentence. The moneys received by the
Department pursuant to this Act and required to be deposited
into the Build Illinois Fund are subject to the pledge, claim
and charge set forth in Section 12 of the Build Illinois Bond
Act.
Subject to payment of amounts into the Build Illinois
Fund as provided in the preceding paragraph or in any
amendment thereto hereafter enacted, the following specified
monthly installment of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority provided under Section 8.25f of the
State Finance Act, but not in excess of the sums designated
as "Total Deposit", shall be deposited in the aggregate from
collections under Section 9 of the Use Tax Act, Section 9 of
the Service Use Tax Act, Section 9 of the Service Occupation
Tax Act, and Section 3 of the Retailers' Occupation Tax Act
into the McCormick Place Expansion Project Fund in the
specified fiscal years.
Fiscal Year Total Deposit
1993 $0
1994 53,000,000
1995 58,000,000
1996 61,000,000
1997 64,000,000
1998 68,000,000
1999 71,000,000
2000 75,000,000
2001 80,000,000
2002 84,000,000
2003 89,000,000
2004 93,000,000
2005 97,000,000
2006 102,000,000
2007 and 108,000,000 106,000,000
2008 115,000,000
2009 120,000,000
2010 126,000,000
2011 132,000,000
2012 138,000,000
2013 and 145,000,000
each fiscal year
thereafter that bonds
are outstanding under
Section 13.2 of the
Metropolitan Pier and
Exposition Authority
Act, but not after fiscal year 2029.
Beginning July 20, 1993 and in each month of each fiscal
year thereafter, one-eighth of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority for that fiscal year, less the amount
deposited into the McCormick Place Expansion Project Fund by
the State Treasurer in the respective month under subsection
(g) of Section 13 of the Metropolitan Pier and Exposition
Authority Act, plus cumulative deficiencies in the deposits
required under this Section for previous months and years,
shall be deposited into the McCormick Place Expansion Project
Fund, until the full amount requested for the fiscal year,
but not in excess of the amount specified above as "Total
Deposit", has been deposited.
Subject to payment of amounts into the Build Illinois
Fund and the McCormick Place Expansion Project Fund pursuant
to the preceding paragraphs or in any amendment thereto
hereafter enacted, each month the Department shall pay into
the Local Government Distributive Fund .4% of the net revenue
realized for the preceding month from the 5% general rate, or
.4% of 80% of the net revenue realized for the preceding
month from the 6.25% general rate, as the case may be, on the
selling price of tangible personal property which amount
shall, subject to appropriation, be distributed as provided
in Section 2 of the State Revenue Sharing Act. No payments or
distributions pursuant to this paragraph shall be made if the
tax imposed by this Act on photoprocessing products is
declared unconstitutional, or if the proceeds from such tax
are unavailable for distribution because of litigation.
Subject to payment of amounts into the Build Illinois
Fund, the McCormick Place Expansion Project Fund, and the
Local Government Distributive Fund pursuant to the preceding
paragraphs or in any amendments thereto hereafter enacted,
beginning July 1, 1993, the Department shall each month pay
into the Illinois Tax Increment Fund 0.27% of 80% of the net
revenue realized for the preceding month from the 6.25%
general rate on the selling price of tangible personal
property.
Of the remainder of the moneys received by the Department
pursuant to this Act, 75% thereof shall be paid into the
State Treasury and 25% shall be reserved in a special account
and used only for the transfer to the Common School Fund as
part of the monthly transfer from the General Revenue Fund in
accordance with Section 8a of the State Finance Act.
As soon as possible after the first day of each month,
upon certification of the Department of Revenue, the
Comptroller shall order transferred and the Treasurer shall
transfer from the General Revenue Fund to the Motor Fuel Tax
Fund an amount equal to 1.7% of 80% of the net revenue
realized under this Act for the second preceding month;
except that this transfer shall not be made for the months
February through June of 1992.
Net revenue realized for a month shall be the revenue
collected by the State pursuant to this Act, less the amount
paid out during that month as refunds to taxpayers for
overpayment of liability.
For greater simplicity of administration, manufacturers,
importers and wholesalers whose products are sold at retail
in Illinois by numerous retailers, and who wish to do so, may
assume the responsibility for accounting and paying to the
Department all tax accruing under this Act with respect to
such sales, if the retailers who are affected do not make
written objection to the Department to this arrangement.
(Source: P.A. 89-379, eff. 1-1-96; 89-626, eff. 8-9-96;
90-491, eff. 1-1-99; 90-612, eff. 7-8-98.)
Section 15. The Service Use Tax Act is amended by
changing Section 9 as follows:
(35 ILCS 110/9) (from Ch. 120, par. 439.39)
Sec. 9. Each serviceman required or authorized to
collect the tax herein imposed shall pay to the Department
the amount of such tax (except as otherwise provided) at the
time when he is required to file his return for the period
during which such tax was collected, less a discount of 2.1%
prior to January 1, 1990 and 1.75% on and after January 1,
1990, or $5 per calendar year, whichever is greater, which is
allowed to reimburse the serviceman for expenses incurred in
collecting the tax, keeping records, preparing and filing
returns, remitting the tax and supplying data to the
Department on request. A serviceman need not remit that part
of any tax collected by him to the extent that he is required
to pay and does pay the tax imposed by the Service Occupation
Tax Act with respect to his sale of service involving the
incidental transfer by him of the same property.
Except as provided hereinafter in this Section, on or
before the twentieth day of each calendar month, such
serviceman shall file a return for the preceding calendar
month in accordance with reasonable Rules and Regulations to
be promulgated by the Department. Such return shall be filed
on a form prescribed by the Department and shall contain such
information as the Department may reasonably require.
The Department may require returns to be filed on a
quarterly basis. If so required, a return for each calendar
quarter shall be filed on or before the twentieth day of the
calendar month following the end of such calendar quarter.
The taxpayer shall also file a return with the Department for
each of the first two months of each calendar quarter, on or
before the twentieth day of the following calendar month,
stating:
1. The name of the seller;
2. The address of the principal place of business
from which he engages in business as a serviceman in this
State;
3. The total amount of taxable receipts received by
him during the preceding calendar month, including
receipts from charge and time sales, but less all
deductions allowed by law;
4. The amount of credit provided in Section 2d of
this Act;
5. The amount of tax due;
5-5. The signature of the taxpayer; and
6. Such other reasonable information as the
Department may require.
If a taxpayer fails to sign a return within 30 days after
the proper notice and demand for signature by the Department,
the return shall be considered valid and any amount shown to
be due on the return shall be deemed assessed.
Beginning October 1, 1993, a taxpayer who has an average
monthly tax liability of $150,000 or more shall make all
payments required by rules of the Department by electronic
funds transfer. Beginning October 1, 1994, a taxpayer who
has an average monthly tax liability of $100,000 or more
shall make all payments required by rules of the Department
by electronic funds transfer. Beginning October 1, 1995, a
taxpayer who has an average monthly tax liability of $50,000
or more shall make all payments required by rules of the
Department by electronic funds transfer. The term "average
monthly tax liability" means the sum of the taxpayer's
liabilities under this Act, and under all other State and
local occupation and use tax laws administered by the
Department, for the immediately preceding calendar year
divided by 12.
Before August 1 of each year beginning in 1993, the
Department shall notify all taxpayers required to make
payments by electronic funds transfer. All taxpayers required
to make payments by electronic funds transfer shall make
those payments for a minimum of one year beginning on October
1.
Any taxpayer not required to make payments by electronic
funds transfer may make payments by electronic funds transfer
with the permission of the Department.
All taxpayers required to make payment by electronic
funds transfer and any taxpayers authorized to voluntarily
make payments by electronic funds transfer shall make those
payments in the manner authorized by the Department.
The Department shall adopt such rules as are necessary to
effectuate a program of electronic funds transfer and the
requirements of this Section.
If the serviceman is otherwise required to file a monthly
return and if the serviceman's average monthly tax liability
to the Department does not exceed $200, the Department may
authorize his returns to be filed on a quarter annual basis,
with the return for January, February and March of a given
year being due by April 20 of such year; with the return for
April, May and June of a given year being due by July 20 of
such year; with the return for July, August and September of
a given year being due by October 20 of such year, and with
the return for October, November and December of a given year
being due by January 20 of the following year.
If the serviceman is otherwise required to file a monthly
or quarterly return and if the serviceman's average monthly
tax liability to the Department does not exceed $50, the
Department may authorize his returns to be filed on an annual
basis, with the return for a given year being due by January
20 of the following year.
Such quarter annual and annual returns, as to form and
substance, shall be subject to the same requirements as
monthly returns.
Notwithstanding any other provision in this Act
concerning the time within which a serviceman may file his
return, in the case of any serviceman who ceases to engage in
a kind of business which makes him responsible for filing
returns under this Act, such serviceman shall file a final
return under this Act with the Department not more than 1
month after discontinuing such business.
Where a serviceman collects the tax with respect to the
selling price of property which he sells and the purchaser
thereafter returns such property and the serviceman refunds
the selling price thereof to the purchaser, such serviceman
shall also refund, to the purchaser, the tax so collected
from the purchaser. When filing his return for the period in
which he refunds such tax to the purchaser, the serviceman
may deduct the amount of the tax so refunded by him to the
purchaser from any other Service Use Tax, Service Occupation
Tax, retailers' occupation tax or use tax which such
serviceman may be required to pay or remit to the Department,
as shown by such return, provided that the amount of the tax
to be deducted shall previously have been remitted to the
Department by such serviceman. If the serviceman shall not
previously have remitted the amount of such tax to the
Department, he shall be entitled to no deduction hereunder
upon refunding such tax to the purchaser.
Any serviceman filing a return hereunder shall also
include the total tax upon the selling price of tangible
personal property purchased for use by him as an incident to
a sale of service, and such serviceman shall remit the amount
of such tax to the Department when filing such return.
If experience indicates such action to be practicable,
the Department may prescribe and furnish a combination or
joint return which will enable servicemen, who are required
to file returns hereunder and also under the Service
Occupation Tax Act, to furnish all the return information
required by both Acts on the one form.
Where the serviceman has more than one business
registered with the Department under separate registration
hereunder, such serviceman shall not file each return that is
due as a single return covering all such registered
businesses, but shall file separate returns for each such
registered business.
Beginning January 1, 1990, each month the Department
shall pay into the State and Local Tax Reform Fund, a special
fund in the State Treasury, the net revenue realized for the
preceding month from the 1% tax on sales of food for human
consumption which is to be consumed off the premises where it
is sold (other than alcoholic beverages, soft drinks and food
which has been prepared for immediate consumption) and
prescription and nonprescription medicines, drugs, medical
appliances and insulin, urine testing materials, syringes and
needles used by diabetics.
Beginning January 1, 1990, each month the Department
shall pay into the State and Local Sales Tax Reform Fund 20%
of the net revenue realized for the preceding month from the
6.25% general rate on transfers of tangible personal
property, other than tangible personal property which is
purchased outside Illinois at retail from a retailer and
which is titled or registered by an agency of this State's
government.
Of the remainder of the moneys received by the Department
pursuant to this Act, (a) 1.75% thereof shall be paid into
the Build Illinois Fund and (b) prior to July 1, 1989, 2.2%
and on and after July 1, 1989, 3.8% thereof shall be paid
into the Build Illinois Fund; provided, however, that if in
any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%,
as the case may be, of the moneys received by the Department
and required to be paid into the Build Illinois Fund pursuant
to Section 3 of the Retailers' Occupation Tax Act, Section 9
of the Use Tax Act, Section 9 of the Service Use Tax Act, and
Section 9 of the Service Occupation Tax Act, such Acts being
hereinafter called the "Tax Acts" and such aggregate of 2.2%
or 3.8%, as the case may be, of moneys being hereinafter
called the "Tax Act Amount", and (2) the amount transferred
to the Build Illinois Fund from the State and Local Sales Tax
Reform Fund shall be less than the Annual Specified Amount
(as defined in Section 3 of the Retailers' Occupation Tax
Act), an amount equal to the difference shall be immediately
paid into the Build Illinois Fund from other moneys received
by the Department pursuant to the Tax Acts; and further
provided, that if on the last business day of any month the
sum of (1) the Tax Act Amount required to be deposited into
the Build Illinois Bond Account in the Build Illinois Fund
during such month and (2) the amount transferred during such
month to the Build Illinois Fund from the State and Local
Sales Tax Reform Fund shall have been less than 1/12 of the
Annual Specified Amount, an amount equal to the difference
shall be immediately paid into the Build Illinois Fund from
other moneys received by the Department pursuant to the Tax
Acts; and, further provided, that in no event shall the
payments required under the preceding proviso result in
aggregate payments into the Build Illinois Fund pursuant to
this clause (b) for any fiscal year in excess of the greater
of (i) the Tax Act Amount or (ii) the Annual Specified Amount
for such fiscal year; and, further provided, that the amounts
payable into the Build Illinois Fund under this clause (b)
shall be payable only until such time as the aggregate amount
on deposit under each trust indenture securing Bonds issued
and outstanding pursuant to the Build Illinois Bond Act is
sufficient, taking into account any future investment income,
to fully provide, in accordance with such indenture, for the
defeasance of or the payment of the principal of, premium, if
any, and interest on the Bonds secured by such indenture and
on any Bonds expected to be issued thereafter and all fees
and costs payable with respect thereto, all as certified by
the Director of the Bureau of the Budget. If on the last
business day of any month in which Bonds are outstanding
pursuant to the Build Illinois Bond Act, the aggregate of the
moneys deposited in the Build Illinois Bond Account in the
Build Illinois Fund in such month shall be less than the
amount required to be transferred in such month from the
Build Illinois Bond Account to the Build Illinois Bond
Retirement and Interest Fund pursuant to Section 13 of the
Build Illinois Bond Act, an amount equal to such deficiency
shall be immediately paid from other moneys received by the
Department pursuant to the Tax Acts to the Build Illinois
Fund; provided, however, that any amounts paid to the Build
Illinois Fund in any fiscal year pursuant to this sentence
shall be deemed to constitute payments pursuant to clause (b)
of the preceding sentence and shall reduce the amount
otherwise payable for such fiscal year pursuant to clause (b)
of the preceding sentence. The moneys received by the
Department pursuant to this Act and required to be deposited
into the Build Illinois Fund are subject to the pledge, claim
and charge set forth in Section 12 of the Build Illinois Bond
Act.
Subject to payment of amounts into the Build Illinois
Fund as provided in the preceding paragraph or in any
amendment thereto hereafter enacted, the following specified
monthly installment of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority provided under Section 8.25f of the
State Finance Act, but not in excess of the sums designated
as "Total Deposit", shall be deposited in the aggregate from
collections under Section 9 of the Use Tax Act, Section 9 of
the Service Use Tax Act, Section 9 of the Service Occupation
Tax Act, and Section 3 of the Retailers' Occupation Tax Act
into the McCormick Place Expansion Project Fund in the
specified fiscal years.
Fiscal Year Total Deposit
1993 $0
1994 53,000,000
1995 58,000,000
1996 61,000,000
1997 64,000,000
1998 68,000,000
1999 71,000,000
2000 75,000,000
2001 80,000,000
2002 84,000,000
2003 89,000,000
2004 93,000,000
2005 97,000,000
2006 102,000,000
2007 and 108,000,000 106,000,000
2008 115,000,000
2009 120,000,000
2010 126,000,000
2011 132,000,000
2012 138,000,000
2013 and 145,000,000
each fiscal year
thereafter that bonds
are outstanding under
Section 13.2 of the
Metropolitan Pier and
Exposition Authority Act,
but not after fiscal year 2029.
Beginning July 20, 1993 and in each month of each fiscal
year thereafter, one-eighth of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority for that fiscal year, less the amount
deposited into the McCormick Place Expansion Project Fund by
the State Treasurer in the respective month under subsection
(g) of Section 13 of the Metropolitan Pier and Exposition
Authority Act, plus cumulative deficiencies in the deposits
required under this Section for previous months and years,
shall be deposited into the McCormick Place Expansion Project
Fund, until the full amount requested for the fiscal year,
but not in excess of the amount specified above as "Total
Deposit", has been deposited.
Subject to payment of amounts into the Build Illinois
Fund and the McCormick Place Expansion Project Fund pursuant
to the preceding paragraphs or in any amendment thereto
hereafter enacted, each month the Department shall pay into
the Local Government Distributive Fund 0.4% of the net
revenue realized for the preceding month from the 5% general
rate or 0.4% of 80% of the net revenue realized for the
preceding month from the 6.25% general rate, as the case may
be, on the selling price of tangible personal property which
amount shall, subject to appropriation, be distributed as
provided in Section 2 of the State Revenue Sharing Act. No
payments or distributions pursuant to this paragraph shall be
made if the tax imposed by this Act on photo processing
products is declared unconstitutional, or if the proceeds
from such tax are unavailable for distribution because of
litigation.
Subject to payment of amounts into the Build Illinois
Fund, the McCormick Place Expansion Project Fund, and the
Local Government Distributive Fund pursuant to the preceding
paragraphs or in any amendments thereto hereafter enacted,
beginning July 1, 1993, the Department shall each month pay
into the Illinois Tax Increment Fund 0.27% of 80% of the net
revenue realized for the preceding month from the 6.25%
general rate on the selling price of tangible personal
property.
All remaining moneys received by the Department pursuant
to this Act shall be paid into the General Revenue Fund of
the State Treasury.
As soon as possible after the first day of each month,
upon certification of the Department of Revenue, the
Comptroller shall order transferred and the Treasurer shall
transfer from the General Revenue Fund to the Motor Fuel Tax
Fund an amount equal to 1.7% of 80% of the net revenue
realized under this Act for the second preceding month;
except that this transfer shall not be made for the months
February through June, 1992.
Net revenue realized for a month shall be the revenue
collected by the State pursuant to this Act, less the amount
paid out during that month as refunds to taxpayers for
overpayment of liability.
(Source: P.A. 89-379, eff. 1-1-96; 90-612, eff. 7-8-98.)
Section 20. The Service Occupation Tax Act is amended by
changing Section 9 as follows:
(35 ILCS 115/9) (from Ch. 120, par. 439.109)
Sec. 9. Each serviceman required or authorized to
collect the tax herein imposed shall pay to the Department
the amount of such tax at the time when he is required to
file his return for the period during which such tax was
collectible, less a discount of 2.1% prior to January 1,
1990, and 1.75% on and after January 1, 1990, or $5 per
calendar year, whichever is greater, which is allowed to
reimburse the serviceman for expenses incurred in collecting
the tax, keeping records, preparing and filing returns,
remitting the tax and supplying data to the Department on
request.
Where such tangible personal property is sold under a
conditional sales contract, or under any other form of sale
wherein the payment of the principal sum, or a part thereof,
is extended beyond the close of the period for which the
return is filed, the serviceman, in collecting the tax may
collect, for each tax return period, only the tax applicable
to the part of the selling price actually received during
such tax return period.
Except as provided hereinafter in this Section, on or
before the twentieth day of each calendar month, such
serviceman shall file a return for the preceding calendar
month in accordance with reasonable rules and regulations to
be promulgated by the Department of Revenue. Such return
shall be filed on a form prescribed by the Department and
shall contain such information as the Department may
reasonably require.
The Department may require returns to be filed on a
quarterly basis. If so required, a return for each calendar
quarter shall be filed on or before the twentieth day of the
calendar month following the end of such calendar quarter.
The taxpayer shall also file a return with the Department for
each of the first two months of each calendar quarter, on or
before the twentieth day of the following calendar month,
stating:
1. The name of the seller;
2. The address of the principal place of business
from which he engages in business as a serviceman in this
State;
3. The total amount of taxable receipts received by
him during the preceding calendar month, including
receipts from charge and time sales, but less all
deductions allowed by law;
4. The amount of credit provided in Section 2d of
this Act;
5. The amount of tax due;
5-5. The signature of the taxpayer; and
6. Such other reasonable information as the
Department may require.
If a taxpayer fails to sign a return within 30 days after
the proper notice and demand for signature by the Department,
the return shall be considered valid and any amount shown to
be due on the return shall be deemed assessed.
A serviceman may accept a Manufacturer's Purchase Credit
certification from a purchaser in satisfaction of Service Use
Tax as provided in Section 3-70 of the Service Use Tax Act if
the purchaser provides the appropriate documentation as
required by Section 3-70 of the Service Use Tax Act. A
Manufacturer's Purchase Credit certification, accepted by a
serviceman as provided in Section 3-70 of the Service Use Tax
Act, may be used by that serviceman to satisfy Service
Occupation Tax liability in the amount claimed in the
certification, not to exceed 6.25% of the receipts subject to
tax from a qualifying purchase.
If the serviceman's average monthly tax liability to the
Department does not exceed $200, the Department may authorize
his returns to be filed on a quarter annual basis, with the
return for January, February and March of a given year being
due by April 20 of such year; with the return for April, May
and June of a given year being due by July 20 of such year;
with the return for July, August and September of a given
year being due by October 20 of such year, and with the
return for October, November and December of a given year
being due by January 20 of the following year.
If the serviceman's average monthly tax liability to the
Department does not exceed $50, the Department may authorize
his returns to be filed on an annual basis, with the return
for a given year being due by January 20 of the following
year.
Such quarter annual and annual returns, as to form and
substance, shall be subject to the same requirements as
monthly returns.
Notwithstanding any other provision in this Act
concerning the time within which a serviceman may file his
return, in the case of any serviceman who ceases to engage in
a kind of business which makes him responsible for filing
returns under this Act, such serviceman shall file a final
return under this Act with the Department not more than 1
month after discontinuing such business.
Beginning October 1, 1993, a taxpayer who has an average
monthly tax liability of $150,000 or more shall make all
payments required by rules of the Department by electronic
funds transfer. Beginning October 1, 1994, a taxpayer who
has an average monthly tax liability of $100,000 or more
shall make all payments required by rules of the Department
by electronic funds transfer. Beginning October 1, 1995, a
taxpayer who has an average monthly tax liability of $50,000
or more shall make all payments required by rules of the
Department by electronic funds transfer. The term "average
monthly tax liability" means the sum of the taxpayer's
liabilities under this Act, and under all other State and
local occupation and use tax laws administered by the
Department, for the immediately preceding calendar year
divided by 12.
Before August 1 of each year beginning in 1993, the
Department shall notify all taxpayers required to make
payments by electronic funds transfer. All taxpayers
required to make payments by electronic funds transfer shall
make those payments for a minimum of one year beginning on
October 1.
Any taxpayer not required to make payments by electronic
funds transfer may make payments by electronic funds transfer
with the permission of the Department.
All taxpayers required to make payment by electronic
funds transfer and any taxpayers authorized to voluntarily
make payments by electronic funds transfer shall make those
payments in the manner authorized by the Department.
The Department shall adopt such rules as are necessary to
effectuate a program of electronic funds transfer and the
requirements of this Section.
Where a serviceman collects the tax with respect to the
selling price of tangible personal property which he sells
and the purchaser thereafter returns such tangible personal
property and the serviceman refunds the selling price thereof
to the purchaser, such serviceman shall also refund, to the
purchaser, the tax so collected from the purchaser. When
filing his return for the period in which he refunds such tax
to the purchaser, the serviceman may deduct the amount of the
tax so refunded by him to the purchaser from any other
Service Occupation Tax, Service Use Tax, Retailers'
Occupation Tax or Use Tax which such serviceman may be
required to pay or remit to the Department, as shown by such
return, provided that the amount of the tax to be deducted
shall previously have been remitted to the Department by such
serviceman. If the serviceman shall not previously have
remitted the amount of such tax to the Department, he shall
be entitled to no deduction hereunder upon refunding such tax
to the purchaser.
If experience indicates such action to be practicable,
the Department may prescribe and furnish a combination or
joint return which will enable servicemen, who are required
to file returns hereunder and also under the Retailers'
Occupation Tax Act, the Use Tax Act or the Service Use Tax
Act, to furnish all the return information required by all
said Acts on the one form.
Where the serviceman has more than one business
registered with the Department under separate registrations
hereunder, such serviceman shall file separate returns for
each registered business.
Beginning January 1, 1990, each month the Department
shall pay into the Local Government Tax Fund the revenue
realized for the preceding month from the 1% tax on sales of
food for human consumption which is to be consumed off the
premises where it is sold (other than alcoholic beverages,
soft drinks and food which has been prepared for immediate
consumption) and prescription and nonprescription medicines,
drugs, medical appliances and insulin, urine testing
materials, syringes and needles used by diabetics.
Beginning January 1, 1990, each month the Department
shall pay into the County and Mass Transit District Fund 4%
of the revenue realized for the preceding month from the
6.25% general rate.
Beginning January 1, 1990, each month the Department
shall pay into the Local Government Tax Fund 16% of the
revenue realized for the preceding month from the 6.25%
general rate on transfers of tangible personal property.
Of the remainder of the moneys received by the Department
pursuant to this Act, (a) 1.75% thereof shall be paid into
the Build Illinois Fund and (b) prior to July 1, 1989, 2.2%
and on and after July 1, 1989, 3.8% thereof shall be paid
into the Build Illinois Fund; provided, however, that if in
any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%,
as the case may be, of the moneys received by the Department
and required to be paid into the Build Illinois Fund pursuant
to Section 3 of the Retailers' Occupation Tax Act, Section 9
of the Use Tax Act, Section 9 of the Service Use Tax Act, and
Section 9 of the Service Occupation Tax Act, such Acts being
hereinafter called the "Tax Acts" and such aggregate of 2.2%
or 3.8%, as the case may be, of moneys being hereinafter
called the "Tax Act Amount", and (2) the amount transferred
to the Build Illinois Fund from the State and Local Sales Tax
Reform Fund shall be less than the Annual Specified Amount
(as defined in Section 3 of the Retailers' Occupation Tax
Act), an amount equal to the difference shall be immediately
paid into the Build Illinois Fund from other moneys received
by the Department pursuant to the Tax Acts; and further
provided, that if on the last business day of any month the
sum of (1) the Tax Act Amount required to be deposited into
the Build Illinois Account in the Build Illinois Fund during
such month and (2) the amount transferred during such month
to the Build Illinois Fund from the State and Local Sales Tax
Reform Fund shall have been less than 1/12 of the Annual
Specified Amount, an amount equal to the difference shall be
immediately paid into the Build Illinois Fund from other
moneys received by the Department pursuant to the Tax Acts;
and, further provided, that in no event shall the payments
required under the preceding proviso result in aggregate
payments into the Build Illinois Fund pursuant to this clause
(b) for any fiscal year in excess of the greater of (i) the
Tax Act Amount or (ii) the Annual Specified Amount for such
fiscal year; and, further provided, that the amounts payable
into the Build Illinois Fund under this clause (b) shall be
payable only until such time as the aggregate amount on
deposit under each trust indenture securing Bonds issued and
outstanding pursuant to the Build Illinois Bond Act is
sufficient, taking into account any future investment income,
to fully provide, in accordance with such indenture, for the
defeasance of or the payment of the principal of, premium, if
any, and interest on the Bonds secured by such indenture and
on any Bonds expected to be issued thereafter and all fees
and costs payable with respect thereto, all as certified by
the Director of the Bureau of the Budget. If on the last
business day of any month in which Bonds are outstanding
pursuant to the Build Illinois Bond Act, the aggregate of the
moneys deposited in the Build Illinois Bond Account in the
Build Illinois Fund in such month shall be less than the
amount required to be transferred in such month from the
Build Illinois Bond Account to the Build Illinois Bond
Retirement and Interest Fund pursuant to Section 13 of the
Build Illinois Bond Act, an amount equal to such deficiency
shall be immediately paid from other moneys received by the
Department pursuant to the Tax Acts to the Build Illinois
Fund; provided, however, that any amounts paid to the Build
Illinois Fund in any fiscal year pursuant to this sentence
shall be deemed to constitute payments pursuant to clause (b)
of the preceding sentence and shall reduce the amount
otherwise payable for such fiscal year pursuant to clause (b)
of the preceding sentence. The moneys received by the
Department pursuant to this Act and required to be deposited
into the Build Illinois Fund are subject to the pledge, claim
and charge set forth in Section 12 of the Build Illinois Bond
Act.
Subject to payment of amounts into the Build Illinois
Fund as provided in the preceding paragraph or in any
amendment thereto hereafter enacted, the following specified
monthly installment of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority provided under Section 8.25f of the
State Finance Act, but not in excess of the sums designated
as "Total Deposit", shall be deposited in the aggregate from
collections under Section 9 of the Use Tax Act, Section 9 of
the Service Use Tax Act, Section 9 of the Service Occupation
Tax Act, and Section 3 of the Retailers' Occupation Tax Act
into the McCormick Place Expansion Project Fund in the
specified fiscal years.
Fiscal Year Total Deposit
1993 $0
1994 53,000,000
1995 58,000,000
1996 61,000,000
1997 64,000,000
1998 68,000,000
1999 71,000,000
2000 75,000,000
2001 80,000,000
2002 84,000,000
2003 89,000,000
2004 93,000,000
2005 97,000,000
2006 102,000,000
2007 and 108,000,000 106,000,000
2008 115,000,000
2009 120,000,000
2010 126,000,000
2011 132,000,000
2012 138,000,000
2013 and 145,000,000
each fiscal year
thereafter that bonds
are outstanding under
Section 13.2 of the
Metropolitan Pier and
Exposition Authority
Act, but not after fiscal year 2029.
Beginning July 20, 1993 and in each month of each fiscal
year thereafter, one-eighth of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority for that fiscal year, less the amount
deposited into the McCormick Place Expansion Project Fund by
the State Treasurer in the respective month under subsection
(g) of Section 13 of the Metropolitan Pier and Exposition
Authority Act, plus cumulative deficiencies in the deposits
required under this Section for previous months and years,
shall be deposited into the McCormick Place Expansion Project
Fund, until the full amount requested for the fiscal year,
but not in excess of the amount specified above as "Total
Deposit", has been deposited.
Subject to payment of amounts into the Build Illinois
Fund and the McCormick Place Expansion Project Fund pursuant
to the preceding paragraphs or in any amendment thereto
hereafter enacted, each month the Department shall pay into
the Local Government Distributive Fund 0.4% of the net
revenue realized for the preceding month from the 5% general
rate or 0.4% of 80% of the net revenue realized for the
preceding month from the 6.25% general rate, as the case may
be, on the selling price of tangible personal property which
amount shall, subject to appropriation, be distributed as
provided in Section 2 of the State Revenue Sharing Act. No
payments or distributions pursuant to this paragraph shall be
made if the tax imposed by this Act on photoprocessing
products is declared unconstitutional, or if the proceeds
from such tax are unavailable for distribution because of
litigation.
Subject to payment of amounts into the Build Illinois
Fund, the McCormick Place Expansion Project Fund, and the
Local Government Distributive Fund pursuant to the preceding
paragraphs or in any amendments thereto hereafter enacted,
beginning July 1, 1993, the Department shall each month pay
into the Illinois Tax Increment Fund 0.27% of 80% of the net
revenue realized for the preceding month from the 6.25%
general rate on the selling price of tangible personal
property.
Remaining moneys received by the Department pursuant to
this Act shall be paid into the General Revenue Fund of the
State Treasury.
The Department may, upon separate written notice to a
taxpayer, require the taxpayer to prepare and file with the
Department on a form prescribed by the Department within not
less than 60 days after receipt of the notice an annual
information return for the tax year specified in the notice.
Such annual return to the Department shall include a
statement of gross receipts as shown by the taxpayer's last
Federal income tax return. If the total receipts of the
business as reported in the Federal income tax return do not
agree with the gross receipts reported to the Department of
Revenue for the same period, the taxpayer shall attach to his
annual return a schedule showing a reconciliation of the 2
amounts and the reasons for the difference. The taxpayer's
annual return to the Department shall also disclose the cost
of goods sold by the taxpayer during the year covered by such
return, opening and closing inventories of such goods for
such year, cost of goods used from stock or taken from stock
and given away by the taxpayer during such year, pay roll
information of the taxpayer's business during such year and
any additional reasonable information which the Department
deems would be helpful in determining the accuracy of the
monthly, quarterly or annual returns filed by such taxpayer
as hereinbefore provided for in this Section.
If the annual information return required by this Section
is not filed when and as required, the taxpayer shall be
liable as follows:
(i) Until January 1, 1994, the taxpayer shall be
liable for a penalty equal to 1/6 of 1% of the tax due
from such taxpayer under this Act during the period to be
covered by the annual return for each month or fraction
of a month until such return is filed as required, the
penalty to be assessed and collected in the same manner
as any other penalty provided for in this Act.
(ii) On and after January 1, 1994, the taxpayer
shall be liable for a penalty as described in Section 3-4
of the Uniform Penalty and Interest Act.
The chief executive officer, proprietor, owner or highest
ranking manager shall sign the annual return to certify the
accuracy of the information contained therein. Any person
who willfully signs the annual return containing false or
inaccurate information shall be guilty of perjury and
punished accordingly. The annual return form prescribed by
the Department shall include a warning that the person
signing the return may be liable for perjury.
The foregoing portion of this Section concerning the
filing of an annual information return shall not apply to a
serviceman who is not required to file an income tax return
with the United States Government.
As soon as possible after the first day of each month,
upon certification of the Department of Revenue, the
Comptroller shall order transferred and the Treasurer shall
transfer from the General Revenue Fund to the Motor Fuel Tax
Fund an amount equal to 1.7% of 80% of the net revenue
realized under this Act for the second preceding month;
except that this transfer shall not be made for the months
February through June, 1992.
Net revenue realized for a month shall be the revenue
collected by the State pursuant to this Act, less the amount
paid out during that month as refunds to taxpayers for
overpayment of liability.
For greater simplicity of administration, it shall be
permissible for manufacturers, importers and wholesalers
whose products are sold by numerous servicemen in Illinois,
and who wish to do so, to assume the responsibility for
accounting and paying to the Department all tax accruing
under this Act with respect to such sales, if the servicemen
who are affected do not make written objection to the
Department to this arrangement.
(Source: P.A. 89-89, eff. 6-30-95; 89-235, eff. 8-4-95;
89-379, eff. 1-1-96; 89-626, eff. 8-9-96; 90-612, eff.
7-8-98.)
Section 25. The Retailers' Occupation Tax Act is amended
by changing Section 3 as follows:
(35 ILCS 120/3) (from Ch. 120, par. 442)
Sec. 3. Except as provided in this Section, on or before
the twentieth day of each calendar month, every person
engaged in the business of selling tangible personal property
at retail in this State during the preceding calendar month
shall file a return with the Department, stating:
1. The name of the seller;
2. His residence address and the address of his
principal place of business and the address of the
principal place of business (if that is a different
address) from which he engages in the business of selling
tangible personal property at retail in this State;
3. Total amount of receipts received by him during
the preceding calendar month or quarter, as the case may
be, from sales of tangible personal property, and from
services furnished, by him during such preceding calendar
month or quarter;
4. Total amount received by him during the
preceding calendar month or quarter on charge and time
sales of tangible personal property, and from services
furnished, by him prior to the month or quarter for which
the return is filed;
5. Deductions allowed by law;
6. Gross receipts which were received by him during
the preceding calendar month or quarter and upon the
basis of which the tax is imposed;
7. The amount of credit provided in Section 2d of
this Act;
8. The amount of tax due;
9. The signature of the taxpayer; and
10. Such other reasonable information as the
Department may require.
If a taxpayer fails to sign a return within 30 days after
the proper notice and demand for signature by the Department,
the return shall be considered valid and any amount shown to
be due on the return shall be deemed assessed.
Each return shall be accompanied by the statement of
prepaid tax issued pursuant to Section 2e for which credit is
claimed.
A retailer may accept a Manufacturer's Purchase Credit
certification from a purchaser in satisfaction of Use Tax as
provided in Section 3-85 of the Use Tax Act if the purchaser
provides the appropriate documentation as required by Section
3-85 of the Use Tax Act. A Manufacturer's Purchase Credit
certification, accepted by a retailer as provided in Section
3-85 of the Use Tax Act, may be used by that retailer to
satisfy Retailers' Occupation Tax liability in the amount
claimed in the certification, not to exceed 6.25% of the
receipts subject to tax from a qualifying purchase.
The Department may require returns to be filed on a
quarterly basis. If so required, a return for each calendar
quarter shall be filed on or before the twentieth day of the
calendar month following the end of such calendar quarter.
The taxpayer shall also file a return with the Department for
each of the first two months of each calendar quarter, on or
before the twentieth day of the following calendar month,
stating:
1. The name of the seller;
2. The address of the principal place of business
from which he engages in the business of selling tangible
personal property at retail in this State;
3. The total amount of taxable receipts received by
him during the preceding calendar month from sales of
tangible personal property by him during such preceding
calendar month, including receipts from charge and time
sales, but less all deductions allowed by law;
4. The amount of credit provided in Section 2d of
this Act;
5. The amount of tax due; and
6. Such other reasonable information as the
Department may require.
If a total amount of less than $1 is payable, refundable
or creditable, such amount shall be disregarded if it is less
than 50 cents and shall be increased to $1 if it is 50 cents
or more.
Beginning October 1, 1993, a taxpayer who has an average
monthly tax liability of $150,000 or more shall make all
payments required by rules of the Department by electronic
funds transfer. Beginning October 1, 1994, a taxpayer who
has an average monthly tax liability of $100,000 or more
shall make all payments required by rules of the Department
by electronic funds transfer. Beginning October 1, 1995, a
taxpayer who has an average monthly tax liability of $50,000
or more shall make all payments required by rules of the
Department by electronic funds transfer. The term "average
monthly tax liability" shall be the sum of the taxpayer's
liabilities under this Act, and under all other State and
local occupation and use tax laws administered by the
Department, for the immediately preceding calendar year
divided by 12.
Before August 1 of each year beginning in 1993, the
Department shall notify all taxpayers required to make
payments by electronic funds transfer. All taxpayers
required to make payments by electronic funds transfer shall
make those payments for a minimum of one year beginning on
October 1.
Any taxpayer not required to make payments by electronic
funds transfer may make payments by electronic funds transfer
with the permission of the Department.
All taxpayers required to make payment by electronic
funds transfer and any taxpayers authorized to voluntarily
make payments by electronic funds transfer shall make those
payments in the manner authorized by the Department.
The Department shall adopt such rules as are necessary to
effectuate a program of electronic funds transfer and the
requirements of this Section.
Any amount which is required to be shown or reported on
any return or other document under this Act shall, if such
amount is not a whole-dollar amount, be increased to the
nearest whole-dollar amount in any case where the fractional
part of a dollar is 50 cents or more, and decreased to the
nearest whole-dollar amount where the fractional part of a
dollar is less than 50 cents.
If the retailer is otherwise required to file a monthly
return and if the retailer's average monthly tax liability to
the Department does not exceed $200, the Department may
authorize his returns to be filed on a quarter annual basis,
with the return for January, February and March of a given
year being due by April 20 of such year; with the return for
April, May and June of a given year being due by July 20 of
such year; with the return for July, August and September of
a given year being due by October 20 of such year, and with
the return for October, November and December of a given year
being due by January 20 of the following year.
If the retailer is otherwise required to file a monthly
or quarterly return and if the retailer's average monthly tax
liability with the Department does not exceed $50, the
Department may authorize his returns to be filed on an annual
basis, with the return for a given year being due by January
20 of the following year.
Such quarter annual and annual returns, as to form and
substance, shall be subject to the same requirements as
monthly returns.
Notwithstanding any other provision in this Act
concerning the time within which a retailer may file his
return, in the case of any retailer who ceases to engage in a
kind of business which makes him responsible for filing
returns under this Act, such retailer shall file a final
return under this Act with the Department not more than one
month after discontinuing such business.
Where the same person has more than one business
registered with the Department under separate registrations
under this Act, such person may not file each return that is
due as a single return covering all such registered
businesses, but shall file separate returns for each such
registered business.
In addition, with respect to motor vehicles, watercraft,
aircraft, and trailers that are required to be registered
with an agency of this State, every retailer selling this
kind of tangible personal property shall file, with the
Department, upon a form to be prescribed and supplied by the
Department, a separate return for each such item of tangible
personal property which the retailer sells, except that
where, in the same transaction, a retailer of aircraft,
watercraft, motor vehicles or trailers transfers more than
one aircraft, watercraft, motor vehicle or trailer to another
aircraft, watercraft, motor vehicle retailer or trailer
retailer for the purpose of resale, that seller for resale
may report the transfer of all aircraft, watercraft, motor
vehicles or trailers involved in that transaction to the
Department on the same uniform invoice-transaction reporting
return form. For purposes of this Section, "watercraft"
means a Class 2, Class 3, or Class 4 watercraft as defined in
Section 3-2 of the Boat Registration and Safety Act, a
personal watercraft, or any boat equipped with an inboard
motor.
Any retailer who sells only motor vehicles, watercraft,
aircraft, or trailers that are required to be registered with
an agency of this State, so that all retailers' occupation
tax liability is required to be reported, and is reported, on
such transaction reporting returns and who is not otherwise
required to file monthly or quarterly returns, need not file
monthly or quarterly returns. However, those retailers shall
be required to file returns on an annual basis.
The transaction reporting return, in the case of motor
vehicles or trailers that are required to be registered with
an agency of this State, shall be the same document as the
Uniform Invoice referred to in Section 5-402 of The Illinois
Vehicle Code and must show the name and address of the
seller; the name and address of the purchaser; the amount of
the selling price including the amount allowed by the
retailer for traded-in property, if any; the amount allowed
by the retailer for the traded-in tangible personal property,
if any, to the extent to which Section 1 of this Act allows
an exemption for the value of traded-in property; the balance
payable after deducting such trade-in allowance from the
total selling price; the amount of tax due from the retailer
with respect to such transaction; the amount of tax collected
from the purchaser by the retailer on such transaction (or
satisfactory evidence that such tax is not due in that
particular instance, if that is claimed to be the fact); the
place and date of the sale; a sufficient identification of
the property sold; such other information as is required in
Section 5-402 of The Illinois Vehicle Code, and such other
information as the Department may reasonably require.
The transaction reporting return in the case of
watercraft or aircraft must show the name and address of the
seller; the name and address of the purchaser; the amount of
the selling price including the amount allowed by the
retailer for traded-in property, if any; the amount allowed
by the retailer for the traded-in tangible personal property,
if any, to the extent to which Section 1 of this Act allows
an exemption for the value of traded-in property; the balance
payable after deducting such trade-in allowance from the
total selling price; the amount of tax due from the retailer
with respect to such transaction; the amount of tax collected
from the purchaser by the retailer on such transaction (or
satisfactory evidence that such tax is not due in that
particular instance, if that is claimed to be the fact); the
place and date of the sale, a sufficient identification of
the property sold, and such other information as the
Department may reasonably require.
Such transaction reporting return shall be filed not
later than 20 days after the day of delivery of the item that
is being sold, but may be filed by the retailer at any time
sooner than that if he chooses to do so. The transaction
reporting return and tax remittance or proof of exemption
from the Illinois use tax may be transmitted to the
Department by way of the State agency with which, or State
officer with whom the tangible personal property must be
titled or registered (if titling or registration is required)
if the Department and such agency or State officer determine
that this procedure will expedite the processing of
applications for title or registration.
With each such transaction reporting return, the retailer
shall remit the proper amount of tax due (or shall submit
satisfactory evidence that the sale is not taxable if that is
the case), to the Department or its agents, whereupon the
Department shall issue, in the purchaser's name, a use tax
receipt (or a certificate of exemption if the Department is
satisfied that the particular sale is tax exempt) which such
purchaser may submit to the agency with which, or State
officer with whom, he must title or register the tangible
personal property that is involved (if titling or
registration is required) in support of such purchaser's
application for an Illinois certificate or other evidence of
title or registration to such tangible personal property.
No retailer's failure or refusal to remit tax under this
Act precludes a user, who has paid the proper tax to the
retailer, from obtaining his certificate of title or other
evidence of title or registration (if titling or registration
is required) upon satisfying the Department that such user
has paid the proper tax (if tax is due) to the retailer. The
Department shall adopt appropriate rules to carry out the
mandate of this paragraph.
If the user who would otherwise pay tax to the retailer
wants the transaction reporting return filed and the payment
of the tax or proof of exemption made to the Department
before the retailer is willing to take these actions and such
user has not paid the tax to the retailer, such user may
certify to the fact of such delay by the retailer and may
(upon the Department being satisfied of the truth of such
certification) transmit the information required by the
transaction reporting return and the remittance for tax or
proof of exemption directly to the Department and obtain his
tax receipt or exemption determination, in which event the
transaction reporting return and tax remittance (if a tax
payment was required) shall be credited by the Department to
the proper retailer's account with the Department, but
without the 2.1% or 1.75% discount provided for in this
Section being allowed. When the user pays the tax directly
to the Department, he shall pay the tax in the same amount
and in the same form in which it would be remitted if the tax
had been remitted to the Department by the retailer.
Refunds made by the seller during the preceding return
period to purchasers, on account of tangible personal
property returned to the seller, shall be allowed as a
deduction under subdivision 5 of his monthly or quarterly
return, as the case may be, in case the seller had
theretofore included the receipts from the sale of such
tangible personal property in a return filed by him and had
paid the tax imposed by this Act with respect to such
receipts.
Where the seller is a corporation, the return filed on
behalf of such corporation shall be signed by the president,
vice-president, secretary or treasurer or by the properly
accredited agent of such corporation.
Where the seller is a limited liability company, the
return filed on behalf of the limited liability company shall
be signed by a manager, member, or properly accredited agent
of the limited liability company.
Except as provided in this Section, the retailer filing
the return under this Section shall, at the time of filing
such return, pay to the Department the amount of tax imposed
by this Act less a discount of 2.1% prior to January 1, 1990
and 1.75% on and after January 1, 1990, or $5 per calendar
year, whichever is greater, which is allowed to reimburse the
retailer for the expenses incurred in keeping records,
preparing and filing returns, remitting the tax and supplying
data to the Department on request. Any prepayment made
pursuant to Section 2d of this Act shall be included in the
amount on which such 2.1% or 1.75% discount is computed. In
the case of retailers who report and pay the tax on a
transaction by transaction basis, as provided in this
Section, such discount shall be taken with each such tax
remittance instead of when such retailer files his periodic
return.
If the taxpayer's average monthly tax liability to the
Department under this Act, the Use Tax Act, the Service
Occupation Tax Act, and the Service Use Tax Act, excluding
any liability for prepaid sales tax to be remitted in
accordance with Section 2d of this Act, was $10,000 or more
during the preceding 4 complete calendar quarters, he shall
file a return with the Department each month by the 20th day
of the month next following the month during which such tax
liability is incurred and shall make payments to the
Department on or before the 7th, 15th, 22nd and last day of
the month during which such liability is incurred. If the
month during which such tax liability is incurred began prior
to January 1, 1985, each payment shall be in an amount equal
to 1/4 of the taxpayer's actual liability for the month or an
amount set by the Department not to exceed 1/4 of the average
monthly liability of the taxpayer to the Department for the
preceding 4 complete calendar quarters (excluding the month
of highest liability and the month of lowest liability in
such 4 quarter period). If the month during which such tax
liability is incurred begins on or after January 1, 1985 and
prior to January 1, 1987, each payment shall be in an amount
equal to 22.5% of the taxpayer's actual liability for the
month or 27.5% of the taxpayer's liability for the same
calendar month of the preceding year. If the month during
which such tax liability is incurred begins on or after
January 1, 1987 and prior to January 1, 1988, each payment
shall be in an amount equal to 22.5% of the taxpayer's actual
liability for the month or 26.25% of the taxpayer's liability
for the same calendar month of the preceding year. If the
month during which such tax liability is incurred begins on
or after January 1, 1988, and prior to January 1, 1989, or
begins on or after January 1, 1996, each payment shall be in
an amount equal to 22.5% of the taxpayer's actual liability
for the month or 25% of the taxpayer's liability for the same
calendar month of the preceding year. If the month during
which such tax liability is incurred begins on or after
January 1, 1989, and prior to January 1, 1996, each payment
shall be in an amount equal to 22.5% of the taxpayer's actual
liability for the month or 25% of the taxpayer's liability
for the same calendar month of the preceding year or 100% of
the taxpayer's actual liability for the quarter monthly
reporting period. The amount of such quarter monthly
payments shall be credited against the final tax liability of
the taxpayer's return for that month. Once applicable, the
requirement of the making of quarter monthly payments to the
Department by taxpayers having an average monthly tax
liability of $10,000 or more as determined in the manner
provided above shall continue until such taxpayer's average
monthly liability to the Department during the preceding 4
complete calendar quarters (excluding the month of highest
liability and the month of lowest liability) is less than
$9,000, or until such taxpayer's average monthly liability to
the Department as computed for each calendar quarter of the 4
preceding complete calendar quarter period is less than
$10,000. However, if a taxpayer can show the Department that
a substantial change in the taxpayer's business has occurred
which causes the taxpayer to anticipate that his average
monthly tax liability for the reasonably foreseeable future
will fall below $10,000, then such taxpayer may petition the
Department for a change in such taxpayer's reporting status.
The Department shall change such taxpayer's reporting status
unless it finds that such change is seasonal in nature and
not likely to be long term. If any such quarter monthly
payment is not paid at the time or in the amount required by
this Section, then the taxpayer shall be liable for penalties
and interest on the difference between the minimum amount due
as a payment and the amount of such quarter monthly payment
actually and timely paid, except insofar as the taxpayer has
previously made payments for that month to the Department in
excess of the minimum payments previously due as provided in
this Section. The Department shall make reasonable rules and
regulations to govern the quarter monthly payment amount and
quarter monthly payment dates for taxpayers who file on other
than a calendar monthly basis.
Without regard to whether a taxpayer is required to make
quarter monthly payments as specified above, any taxpayer who
is required by Section 2d of this Act to collect and remit
prepaid taxes and has collected prepaid taxes which average
in excess of $25,000 per month during the preceding 2
complete calendar quarters, shall file a return with the
Department as required by Section 2f and shall make payments
to the Department on or before the 7th, 15th, 22nd and last
day of the month during which such liability is incurred. If
the month during which such tax liability is incurred began
prior to the effective date of this amendatory Act of 1985,
each payment shall be in an amount not less than 22.5% of the
taxpayer's actual liability under Section 2d. If the month
during which such tax liability is incurred begins on or
after January 1, 1986, each payment shall be in an amount
equal to 22.5% of the taxpayer's actual liability for the
month or 27.5% of the taxpayer's liability for the same
calendar month of the preceding calendar year. If the month
during which such tax liability is incurred begins on or
after January 1, 1987, each payment shall be in an amount
equal to 22.5% of the taxpayer's actual liability for the
month or 26.25% of the taxpayer's liability for the same
calendar month of the preceding year. The amount of such
quarter monthly payments shall be credited against the final
tax liability of the taxpayer's return for that month filed
under this Section or Section 2f, as the case may be. Once
applicable, the requirement of the making of quarter monthly
payments to the Department pursuant to this paragraph shall
continue until such taxpayer's average monthly prepaid tax
collections during the preceding 2 complete calendar quarters
is $25,000 or less. If any such quarter monthly payment is
not paid at the time or in the amount required, the taxpayer
shall be liable for penalties and interest on such
difference, except insofar as the taxpayer has previously
made payments for that month in excess of the minimum
payments previously due.
If any payment provided for in this Section exceeds the
taxpayer's liabilities under this Act, the Use Tax Act, the
Service Occupation Tax Act and the Service Use Tax Act, as
shown on an original monthly return, the Department shall, if
requested by the taxpayer, issue to the taxpayer a credit
memorandum no later than 30 days after the date of payment.
The credit evidenced by such credit memorandum may be
assigned by the taxpayer to a similar taxpayer under this
Act, the Use Tax Act, the Service Occupation Tax Act or the
Service Use Tax Act, in accordance with reasonable rules and
regulations to be prescribed by the Department. If no such
request is made, the taxpayer may credit such excess payment
against tax liability subsequently to be remitted to the
Department under this Act, the Use Tax Act, the Service
Occupation Tax Act or the Service Use Tax Act, in accordance
with reasonable rules and regulations prescribed by the
Department. If the Department subsequently determined that
all or any part of the credit taken was not actually due to
the taxpayer, the taxpayer's 2.1% and 1.75% vendor's discount
shall be reduced by 2.1% or 1.75% of the difference between
the credit taken and that actually due, and that taxpayer
shall be liable for penalties and interest on such
difference.
If a retailer of motor fuel is entitled to a credit under
Section 2d of this Act which exceeds the taxpayer's liability
to the Department under this Act for the month which the
taxpayer is filing a return, the Department shall issue the
taxpayer a credit memorandum for the excess.
Beginning January 1, 1990, each month the Department
shall pay into the Local Government Tax Fund, a special fund
in the State treasury which is hereby created, the net
revenue realized for the preceding month from the 1% tax on
sales of food for human consumption which is to be consumed
off the premises where it is sold (other than alcoholic
beverages, soft drinks and food which has been prepared for
immediate consumption) and prescription and nonprescription
medicines, drugs, medical appliances and insulin, urine
testing materials, syringes and needles used by diabetics.
Beginning January 1, 1990, each month the Department
shall pay into the County and Mass Transit District Fund, a
special fund in the State treasury which is hereby created,
4% of the net revenue realized for the preceding month from
the 6.25% general rate.
Beginning January 1, 1990, each month the Department
shall pay into the Local Government Tax Fund 16% of the net
revenue realized for the preceding month from the 6.25%
general rate on the selling price of tangible personal
property.
Of the remainder of the moneys received by the Department
pursuant to this Act, (a) 1.75% thereof shall be paid into
the Build Illinois Fund and (b) prior to July 1, 1989, 2.2%
and on and after July 1, 1989, 3.8% thereof shall be paid
into the Build Illinois Fund; provided, however, that if in
any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%,
as the case may be, of the moneys received by the Department
and required to be paid into the Build Illinois Fund pursuant
to this Act, Section 9 of the Use Tax Act, Section 9 of the
Service Use Tax Act, and Section 9 of the Service Occupation
Tax Act, such Acts being hereinafter called the "Tax Acts"
and such aggregate of 2.2% or 3.8%, as the case may be, of
moneys being hereinafter called the "Tax Act Amount", and (2)
the amount transferred to the Build Illinois Fund from the
State and Local Sales Tax Reform Fund shall be less than the
Annual Specified Amount (as hereinafter defined), an amount
equal to the difference shall be immediately paid into the
Build Illinois Fund from other moneys received by the
Department pursuant to the Tax Acts; the "Annual Specified
Amount" means the amounts specified below for fiscal years
1986 through 1993:
Fiscal Year Annual Specified Amount
1986 $54,800,000
1987 $76,650,000
1988 $80,480,000
1989 $88,510,000
1990 $115,330,000
1991 $145,470,000
1992 $182,730,000
1993 $206,520,000;
and means the Certified Annual Debt Service Requirement (as
defined in Section 13 of the Build Illinois Bond Act) or the
Tax Act Amount, whichever is greater, for fiscal year 1994
and each fiscal year thereafter; and further provided, that
if on the last business day of any month the sum of (1) the
Tax Act Amount required to be deposited into the Build
Illinois Bond Account in the Build Illinois Fund during such
month and (2) the amount transferred to the Build Illinois
Fund from the State and Local Sales Tax Reform Fund shall
have been less than 1/12 of the Annual Specified Amount, an
amount equal to the difference shall be immediately paid into
the Build Illinois Fund from other moneys received by the
Department pursuant to the Tax Acts; and, further provided,
that in no event shall the payments required under the
preceding proviso result in aggregate payments into the Build
Illinois Fund pursuant to this clause (b) for any fiscal year
in excess of the greater of (i) the Tax Act Amount or (ii)
the Annual Specified Amount for such fiscal year. The
amounts payable into the Build Illinois Fund under clause (b)
of the first sentence in this paragraph shall be payable only
until such time as the aggregate amount on deposit under each
trust indenture securing Bonds issued and outstanding
pursuant to the Build Illinois Bond Act is sufficient, taking
into account any future investment income, to fully provide,
in accordance with such indenture, for the defeasance of or
the payment of the principal of, premium, if any, and
interest on the Bonds secured by such indenture and on any
Bonds expected to be issued thereafter and all fees and costs
payable with respect thereto, all as certified by the
Director of the Bureau of the Budget. If on the last
business day of any month in which Bonds are outstanding
pursuant to the Build Illinois Bond Act, the aggregate of
moneys deposited in the Build Illinois Bond Account in the
Build Illinois Fund in such month shall be less than the
amount required to be transferred in such month from the
Build Illinois Bond Account to the Build Illinois Bond
Retirement and Interest Fund pursuant to Section 13 of the
Build Illinois Bond Act, an amount equal to such deficiency
shall be immediately paid from other moneys received by the
Department pursuant to the Tax Acts to the Build Illinois
Fund; provided, however, that any amounts paid to the Build
Illinois Fund in any fiscal year pursuant to this sentence
shall be deemed to constitute payments pursuant to clause (b)
of the first sentence of this paragraph and shall reduce the
amount otherwise payable for such fiscal year pursuant to
that clause (b). The moneys received by the Department
pursuant to this Act and required to be deposited into the
Build Illinois Fund are subject to the pledge, claim and
charge set forth in Section 12 of the Build Illinois Bond
Act.
Subject to payment of amounts into the Build Illinois
Fund as provided in the preceding paragraph or in any
amendment thereto hereafter enacted, the following specified
monthly installment of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority provided under Section 8.25f of the
State Finance Act, but not in excess of sums designated as
"Total Deposit", shall be deposited in the aggregate from
collections under Section 9 of the Use Tax Act, Section 9 of
the Service Use Tax Act, Section 9 of the Service Occupation
Tax Act, and Section 3 of the Retailers' Occupation Tax Act
into the McCormick Place Expansion Project Fund in the
specified fiscal years.
Fiscal Year Total Deposit
1993 $0
1994 53,000,000
1995 58,000,000
1996 61,000,000
1997 64,000,000
1998 68,000,000
1999 71,000,000
2000 75,000,000
2001 80,000,000
2002 84,000,000
2003 89,000,000
2004 93,000,000
2005 97,000,000
2006 102,000,000
2007 and 108,000,000 106,000,000
2008 115,000,000
2009 120,000,000
2010 126,000,000
2011 132,000,000
2012 138,000,000
2013 and 145,000,000
each fiscal year
thereafter that bonds
are outstanding under
Section 13.2 of the
Metropolitan Pier and
Exposition Authority
Act, but not after fiscal year 2029.
Beginning July 20, 1993 and in each month of each fiscal
year thereafter, one-eighth of the amount requested in the
certificate of the Chairman of the Metropolitan Pier and
Exposition Authority for that fiscal year, less the amount
deposited into the McCormick Place Expansion Project Fund by
the State Treasurer in the respective month under subsection
(g) of Section 13 of the Metropolitan Pier and Exposition
Authority Act, plus cumulative deficiencies in the deposits
required under this Section for previous months and years,
shall be deposited into the McCormick Place Expansion Project
Fund, until the full amount requested for the fiscal year,
but not in excess of the amount specified above as "Total
Deposit", has been deposited.
Subject to payment of amounts into the Build Illinois
Fund and the McCormick Place Expansion Project Fund pursuant
to the preceding paragraphs or in any amendment thereto
hereafter enacted, each month the Department shall pay into
the Local Government Distributive Fund 0.4% of the net
revenue realized for the preceding month from the 5% general
rate or 0.4% of 80% of the net revenue realized for the
preceding month from the 6.25% general rate, as the case may
be, on the selling price of tangible personal property which
amount shall, subject to appropriation, be distributed as
provided in Section 2 of the State Revenue Sharing Act. No
payments or distributions pursuant to this paragraph shall be
made if the tax imposed by this Act on photoprocessing
products is declared unconstitutional, or if the proceeds
from such tax are unavailable for distribution because of
litigation.
Subject to payment of amounts into the Build Illinois
Fund, the McCormick Place Expansion Project to the preceding
paragraphs or in any amendments thereto hereafter enacted,
beginning July 1, 1993, the Department shall each month pay
into the Illinois Tax Increment Fund 0.27% of 80% of the net
revenue realized for the preceding month from the 6.25%
general rate on the selling price of tangible personal
property.
Of the remainder of the moneys received by the Department
pursuant to this Act, 75% thereof shall be paid into the
State Treasury and 25% shall be reserved in a special account
and used only for the transfer to the Common School Fund as
part of the monthly transfer from the General Revenue Fund in
accordance with Section 8a of the State Finance Act.
The Department may, upon separate written notice to a
taxpayer, require the taxpayer to prepare and file with the
Department on a form prescribed by the Department within not
less than 60 days after receipt of the notice an annual
information return for the tax year specified in the notice.
Such annual return to the Department shall include a
statement of gross receipts as shown by the retailer's last
Federal income tax return. If the total receipts of the
business as reported in the Federal income tax return do not
agree with the gross receipts reported to the Department of
Revenue for the same period, the retailer shall attach to his
annual return a schedule showing a reconciliation of the 2
amounts and the reasons for the difference. The retailer's
annual return to the Department shall also disclose the cost
of goods sold by the retailer during the year covered by such
return, opening and closing inventories of such goods for
such year, costs of goods used from stock or taken from stock
and given away by the retailer during such year, payroll
information of the retailer's business during such year and
any additional reasonable information which the Department
deems would be helpful in determining the accuracy of the
monthly, quarterly or annual returns filed by such retailer
as provided for in this Section.
If the annual information return required by this Section
is not filed when and as required, the taxpayer shall be
liable as follows:
(i) Until January 1, 1994, the taxpayer shall be
liable for a penalty equal to 1/6 of 1% of the tax due
from such taxpayer under this Act during the period to be
covered by the annual return for each month or fraction
of a month until such return is filed as required, the
penalty to be assessed and collected in the same manner
as any other penalty provided for in this Act.
(ii) On and after January 1, 1994, the taxpayer
shall be liable for a penalty as described in Section 3-4
of the Uniform Penalty and Interest Act.
The chief executive officer, proprietor, owner or highest
ranking manager shall sign the annual return to certify the
accuracy of the information contained therein. Any person
who willfully signs the annual return containing false or
inaccurate information shall be guilty of perjury and
punished accordingly. The annual return form prescribed by
the Department shall include a warning that the person
signing the return may be liable for perjury.
The provisions of this Section concerning the filing of
an annual information return do not apply to a retailer who
is not required to file an income tax return with the United
States Government.
As soon as possible after the first day of each month,
upon certification of the Department of Revenue, the
Comptroller shall order transferred and the Treasurer shall
transfer from the General Revenue Fund to the Motor Fuel Tax
Fund an amount equal to 1.7% of 80% of the net revenue
realized under this Act for the second preceding month;
except that this transfer shall not be made for the months
February through June, 1992.
Net revenue realized for a month shall be the revenue
collected by the State pursuant to this Act, less the amount
paid out during that month as refunds to taxpayers for
overpayment of liability.
For greater simplicity of administration, manufacturers,
importers and wholesalers whose products are sold at retail
in Illinois by numerous retailers, and who wish to do so, may
assume the responsibility for accounting and paying to the
Department all tax accruing under this Act with respect to
such sales, if the retailers who are affected do not make
written objection to the Department to this arrangement.
Any person who promotes, organizes, provides retail
selling space for concessionaires or other types of sellers
at the Illinois State Fair, DuQuoin State Fair, county fairs,
local fairs, art shows, flea markets and similar exhibitions
or events, including any transient merchant as defined by
Section 2 of the Transient Merchant Act of 1987, is required
to file a report with the Department providing the name of
the merchant's business, the name of the person or persons
engaged in merchant's business, the permanent address and
Illinois Retailers Occupation Tax Registration Number of the
merchant, the dates and location of the event and other
reasonable information that the Department may require. The
report must be filed not later than the 20th day of the month
next following the month during which the event with retail
sales was held. Any person who fails to file a report
required by this Section commits a business offense and is
subject to a fine not to exceed $250.
Any person engaged in the business of selling tangible
personal property at retail as a concessionaire or other type
of seller at the Illinois State Fair, county fairs, art
shows, flea markets and similar exhibitions or events, or any
transient merchants, as defined by Section 2 of the Transient
Merchant Act of 1987, may be required to make a daily report
of the amount of such sales to the Department and to make a
daily payment of the full amount of tax due. The Department
shall impose this requirement when it finds that there is a
significant risk of loss of revenue to the State at such an
exhibition or event. Such a finding shall be based on
evidence that a substantial number of concessionaires or
other sellers who are not residents of Illinois will be
engaging in the business of selling tangible personal
property at retail at the exhibition or event, or other
evidence of a significant risk of loss of revenue to the
State. The Department shall notify concessionaires and other
sellers affected by the imposition of this requirement. In
the absence of notification by the Department, the
concessionaires and other sellers shall file their returns as
otherwise required in this Section.
(Source: P.A. 89-89, eff. 6-30-95; 89-235, eff. 8-4-95;
89-379, eff. 1-1-96; 89-626, eff. 8-9-96; 90-491, eff.
1-1-99; 90-612, eff. 7-8-98.)
Section 30. The Metropolitan Pier and Exposition
Authority Act is amended by changing Sections 2, 5, and 13.2
as follows:
(70 ILCS 210/2) (from Ch. 85, par. 1222)
Sec. 2. When used in this Act:
"Authority" means Metropolitan Pier and Exposition
Authority.
"Governmental agency" means the Federal government, State
government, and any unit of local government, and any agency
or instrumentality, corporate or otherwise, thereof.
"Person" means any individual, firm, partnership,
corporation, both domestic and foreign, company, association
or joint stock association; and includes any trustee,
receiver, assignee or personal representative thereof.
"Board" means the governing body of the Metropolitan Pier
and Exposition Authority.
"Governor" means the Governor of the State of Illinois.
"Mayor" means the Mayor of the City of Chicago.
"Metropolitan area" means all that territory in the State
of Illinois lying within the corporate boundaries of the
County of Cook.
"Navy Pier" means the real property, structures,
facilities and improvements located in the City of Chicago
commonly known as Navy Pier, as well as property adjacent or
appurtenant thereto which may be necessary or convenient for
carrying out the purposes of the Authority at that location.
"Park District President" means the President of the
Board of Commissioners of the Chicago Park District.
"Project" means the expansion of existing fair and
exposition grounds and facilities of the Authority by
additions to the present facilities, by acquisition of the
land described below and by the addition of a structure
having a floor area of approximately 1,100,000 square feet,
or any part thereof, and such other improvements to be
located on land to be acquired, including but not limited to
all or a portion of Site A, by connecting walkways or
passageways between the present facilities and additional
structures, and by acquisition and improvement of Navy Pier.
"Expansion Project" means the further expansion of the
grounds, buildings, and facilities of the Authority at Site B
for its corporate purposes, including, but not limited to,
the acquisition of land and interests in land, the relocation
of persons and businesses located on land acquired by the
Authority, and the construction, equipping, and operation of
new exhibition and convention space, meeting rooms, support
facilities, and facilities providing retail uses, commercial
uses, and goods and services for the persons attending
conventions, meetings, exhibits, and events at the grounds,
buildings, and facilities of the Authority. "Expansion
Project" also includes improvements to land, highways, mass
transit facilities, and infrastructure, whether or not
located on land owned by the Authority on Site B, that in the
determination of the Authority are appropriate on account of
the improvement expansion of the Authority's grounds,
buildings, and facilities at Site B. "Expansion Project" also
includes the renovation and improvement of the existing
grounds, buildings, and facilities of the Authority,
including other than Navy Pier.
"State" means the State of Illinois.
"Site A" means the tract of land comprised of a part of
the Illinois Central Railroad Company right-of-way (now known
as the "Illinois Central Gulf Railroad") and a part of the
submerged lands reclaimed by said Railroad as described in
the 1919 Lake Front Ordinance, in the Southeast Fractional
Quarter of Section 22, the Southwest Fractional Quarter of
Section 22 and the Northeast Fractional Quarter of Section
27, Township 39 North, Range 14 East of the Third Principal
Meridian, said tract of land being described as follows:
PARCEL A - NORTH AIR RIGHTS PARCEL
All of the real property and space, at and above a
horizontal plane at an elevation of 33.51 feet above
Chicago City Datum, the horizontal limits of which are
the planes formed by projecting vertically upward and
downward from the surface of the Earth the boundaries of
the following described parcel of land:
Beginning on the westerly line of said Illinois Central
Railroad Company right-of-way at the intersection of the
northerly line of the 23rd Street viaduct, being a line
60 feet (measured perpendicularly) northerly of and
parallel with the centerline of the existing structure,
and running thence northwardly along said westerly
right-of-way line, a distance of 1500.00 feet; thence
eastwardly along a line perpendicular to said westerly
right-of-way line, a distance of 418.419 feet; thence
southwardly along an arc of a circle, convex to the East,
with a radius of 915.13 feet, a distance of 207.694 feet
to a point which is 364.092 feet (measured
perpendicularly) easterly from said westerly right-of-way
line and 1300.00 feet (measured perpendicularly)
northerly of said northerly line of the 23rd Street
viaduct; thence continuing along an arc of a circle,
convex to the East, with a radius of 2008.70 feet, a
distance of 154.214 feet to a point which is 301.631 feet
(measured perpendicularly) easterly from said westerly
right-of-way line and 1159.039 feet (measured
perpendicularly) northerly of said northerly line of the
23rd Street viaduct; thence southwardly along a straight
line a distance of 184.018 feet to a point which is
220.680 feet (measured perpendicularly) easterly from
said westerly right-of-way line and 993.782 feet
(measured perpendicularly) northerly of said northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 66.874 feet to a point
which is 220.719 feet (measured perpendicularly) easterly
from said westerly right-of-way line and 926.908 feet
(measured perpendicularly) northerly from the northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 64.946 feet to a point
which is 199.589 feet (measured perpendicularly) easterly
from said westerly right-of-way line and 865.496 feet
(measured perpendicularly) northerly from said northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 865.496 feet to a point on
said northerly line of the 23rd Street viaduct; which
point is 200.088 feet easterly from said westerly
right-of-way line, and thence westwardly along the
northerly line of said 23rd Street viaduct, said distance
of 200.088 feet to the point of beginning.
There is reserved from the above described parcel of land
a corridor for railroad freight and passenger operations,
said corridor is to be limited in width to a distance of
10 feet normally distant to the left and to the right of
the centerline of Grantor's Northbound Freight Track, and
10 feet normally distant to the left and to the right of
the centerline of Grantor's Southbound Freight Track, the
uppermost limits, or roof, of the railroad freight and
passenger corridor shall be established at an elevation
of 18 feet above the existing Top of Rail of the
aforesaid Northbound and Southbound freight trackage.
PARCEL B - 23RD ST. AIR RIGHTS PARCEL
All of the real property and space, at and above a
horizontal plane which is common with the bottom of the
bottom flange of the E. 23rd Street viaduct as it spans
Grantor's operating commuter, freight and passenger
trackage, the horizontal limits of which are the planes
formed by projecting vertically upward and downward from
the surface of the Earth the boundaries of the following
described parcel of land:
Beginning on the westerly line of said Illinois Central
Railroad Company right-of-way at the intersection of the
northerly line of the 23rd Street viaduct, being a line
60 feet (measured perpendicularly) northerly of and
parallel with the centerline of the existing structure,
and running thence eastwardly along said northerly line
of the 23rd Street viaduct, a distance of 200.088 feet;
thence southwardly along a straight line, a distance of
120.00 feet to a point on the southerly line of said 23rd
Street viaduct (being the southerly line of the easement
granted to the South Park Commissioners dated September
25, 1922 as document No. 7803194), which point is 199.773
feet easterly of said westerly right-of-way line; thence
westwardly along said southerly line of the 23rd Street
viaduct, said distance of 199.773 feet to the westerly
right-of-way line and thence northwardly along said
westerly right-of-way line, a distance of 120.00 feet to
the point of beginning.
PARCEL C - SOUTH AIR RIGHTS PARCEL
All of the real property and space, at and above a
horizontal plane at an elevation of 34.51 feet above
Chicago City Datum, the horizontal limits of which are
the planes formed by projecting vertically upward and
downward from the surface of the Earth the boundaries of
the following described parcel of land:
Beginning on the westerly line of said Illinois Central
Railroad Company right-of-way at the intersection of the
southerly line of the 23rd Street viaduct, being the
southerly line of the easement granted to the South Park
Commissioners dated September 25, 1922 as document No.
7803194) and running thence eastwardly along said South
line of the 23rd Street viaduct, a distance of 199.773
feet; thence southerly along a straight line, a distance
of 169.071 feet to a point which is 199.328 feet
(measured perpendicularly) easterly from said westerly
right-of-way line thence southerly along a straight line,
whose southerly terminus is a point which is 194.66 feet
(measured perpendicularly) easterly from said westerly
right-of-way line and 920.105 feet (measured a distance
of 493.34 feet; thence westwardly along a straight line,
perpendicular to said westerly right-of-way line, a
distance of 196.263 feet to said westerly right-of-way
line and thence northwardly along the westerly
right-of-way, a distance of 662.40 feet to the point of
beginning.
Parcels A, B and C herein above described containing
525,228 square feet (12.0576 acres) of land, more or
less.
AND,
SOUTH FEE PARCEL - SOUTH OF NORTH LINE OF I-55
A tract of land comprised of a part of the Illinois
Central Railroad Company right-of-way (now known as the
"Illinois Central Gulf Railroad") and a part of the
submerged lands reclaimed by said Railroads as described
in the 1919 Lake Front Ordinance, in the Northeast
Fractional Quarter and the Southeast Fractional Quarter
of Section 27, Township 39 North, Range 14 East of the
Third Principal Meridian, said tract of land being
described as follows:
Beginning at a point on the North line of the 31st Street
viaduct, being a line 50.00 feet (measured
perpendicularly) northerly of and parallel with the South
line of said Southeast Fractional Quarter of Section 27,
which point is 163.518 feet (measured along the northerly
line of said viaduct) easterly of the westerly line of
said Illinois Central Railroad Company, and running
thence northwardly along a straight line, a distance of
1903.228 feet, to a point which is 156.586 feet easterly,
and 1850.555 feet northerly of the intersection of said
westerly right-of-way line with the northerly line of
said 31st Street viaduct, as measured along said westerly
line and a line perpendicular thereto; thence northwardly
along a straight line, a distance of 222.296 feet, to a
point which is 148.535 feet easterly, and 2078.705 feet
northerly of the intersection of said westerly
right-of-way line with the northerly line of said 31st
Street viaduct, as measured along said westerly line and
a line perpendicular thereto; thence northwardly along a
straight line, a distance of 488.798 feet, to a point
which is 126.789 feet easterly, and 2567.019 feet
northerly of the intersection of said westerly
right-of-way line with the northerly line of said 31st
Street viaduct, as measured along said westerly line and
a line perpendicular thereto; thence northwardly along a
straight line, a distance of 458.564 feet, to a point
which is 126.266 feet easterly and 3025.583 feet
northerly of the intersection of said westerly
right-of-way line with the northerly line of said 31st
Street viaduct, as measured along said westerly line and
a line perpendicular thereto; thence northwardly along a
straight line, a distance of 362.655 feet, to a point
which is 143.70 feet easterly, and 3387.819 feet
northerly of the intersection of said westerly
right-of-way line with the northerly line of said 31st
street viaduct, as measured along said westerly line and
a line perpendicular thereto; thence northwardly along a
straight line, whose northerly terminus is a point which
is 194.66 feet (measured perpendicularly) easterly from
said westerly right-of-way line and 920.105 feet
(measured perpendicularly) South from the southerly line
of the 23rd Street viaduct (being the southerly line of
the easement granted to the South Park Commissioners
dated September 25, 1922 as document No. 7803194) a
distance of 335.874 feet to an intersection with a
northerly line of the easement for the overhead structure
of the Southwest Expressway System (as described in
Judgement Order No. 67 L 13579 in the Circuit Court of
Cook County), said northerly line extending from a point
on said westerly right-of-way line, 142.47 feet (measured
perpendicularly) North of the intersection of said line
with the easterly extension of the North line of East
25th Street (as shown in Walker Bros. Addition to
Chicago, a subdivision in the Northeast Fractional
Quarter of Section 27 aforesaid) to a point which is
215.07 feet (measured perpendicularly) North of said
easterly extension of the North line of E. 25th Street
and 396.19 feet (measured perpendicularly) westerly of
the westerly line of Burnham Park (as said westerly line
is described by the City of Chicago by ordinance passed
July 21, 1919 and recorded on March 5, 1920 in the Office
of the Recorder of Deeds of Cook County, Illinois as
document No. 6753370); thence northeastwardly along the
northerly line of the easement aforesaid, a distance of
36.733 feet to said point which is 215.07 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street and 396.19 feet (measured
perpendicularly) westerly of said westerly line of
Burnham Park; thence northeastwardly continuing along
said easement line, being a straight line, a distance of
206.321 feet to a point which is 352.76 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street and 211.49 feet (measured
perpendicularly) westerly of said westerly line of
Burnham Park; thence northeastwardly continuing along
said easement line, being a straight line, a distance of
206.308 feet to a point which is 537.36 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street and 73.66 feet (measured
perpendicularly) westerly of said westerly line of
Burnham Park; thence northeastwardly continuing along
said easement line, being a straight line, a distance of
219.688 feet to a point on said westerly line of Burnham
Park, which point is 756.46 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street; thence southwardly along
said westerly line of Burnham Park, being here a straight
line whose southerly terminus is that point which is
308.0 feet (measured along said line) South of the
intersection of said line with the North line of 29th
Street, extended East, a distance of 3185.099 feet to a
point which is 89.16 feet North of aforesaid southerly
terminus; thence southwestwardly along an arc of a
circle, convex to the Southeast, tangent to last
described line and having a radius of 635.34 feet, a
distance of 177.175 feet to a point on that westerly line
of Burnham Park which extends southerly from aforesaid
point 308.0 feet South of the North line of 29th Street,
extended East, to a point on the North line of East 31st
Street extended East, which is 250.00 feet (measured
perpendicularly) easterly of said westerly right-of-way
line; thence southwardly along said last described
westerly line of Burnham Park, a distance of 857.397 feet
to a point which is 86.31 feet (measured along said line)
northerly of aforesaid point on the North line of East
31st Street extended East; thence southeastwardly along
the arc of a circle, convex to the West, tangent to last
described line and having a radius of 573.69 feet, a
distance of 69.426 feet to a point on the north line of
the aforementioned 31st Street viaduct, and thence West
along said North line, a distance of 106.584 feet to the
point of beginning, in Cook County, Illinois.
Containing 1,527,996 square feet (35.0780 acres) of land,
more or less.
AND
NORTH FEE PARCEL-NORTH OF NORTH LINE OF I-55
A tract of land comprised of a part of the Illinois
Central Railroad Company right-of-way (now known as the
"Illinois Central Gulf Railroad") and a part of the
submerged lands reclaimed by said Railroad as described
in the 1919 Lake Front Ordinance, in the Northwest
Fractional Quarter of Section 22, the Southwest
Fractional Quarter of Section 22, the Southeast
Fractional Quarter of Section 22 and the Northwest
Fractional Quarter of Section 27, Township 39 North,
Range 14 East of the Third Principal Meridian, said tract
of land being described as follows:
PARCEL A-NORTH OF 23RD STREET
Beginning on the easterly line of said Illinois Central
Railroad Company right-of-way (being also the westerly
line of Burnham Park as said westerly line is described
in the 1919 Lake Front Ordinance), at the intersection of
the northerly line of the 23rd Street viaduct, being a
line 60.00 feet (measured perpendicularly) northerly of
and parallel with the centerline of the existing
structure, and running thence northwardly along said
easterly right-of-way line, a distance of 2270.472 feet
to an intersection with the North line of E. 18th Street,
extended East, a point 708.495 feet (as measured along
said North line of E. 18th Street, extended East) East
from the westerly right-of-way line of said railroad;
thence continuing northwardly along said easterly
right-of-way line, on a straight line which forms an
angle to the left of 00 degrees 51 minutes 27 seconds
with last described course, a distance of 919.963 feet;
thence westwardly along a straight line which forms an
angle of 73 degrees 40 minutes 14 seconds from North to
West with last described line, a distance of 86.641 feet;
thence southwardly along the arc of a circle, convex to
the East with a radius of 2448.29 feet, a distance of
86.233 feet to a point which is 100.767 feet westerly and
859.910 feet northerly of the intersection of said
easterly right-of-way line with the North line of E. 18th
Street, extended East, as measured along said easterly
line and a line perpendicular thereto; thence southwardly
along a straight line, tangent to last described arc of a
circle, a distance of 436.277 feet to a point which is
197.423 feet westerly and 434.475 feet northerly of the
intersection of said easterly right-of-way line with the
North line of E. 18th Street, extended East, as measured
along said easterly line and a line perpendicular
thereto; thence southeastwardly along the arc of a
circle, convex to the West, tangent to last described
straight line and having a radius of 1343.75 feet, a
distance of 278.822 feet to a point which is 230.646 feet
westerly and 158.143 feet northerly of the intersection
of said easterly right-of-way line with the North line of
E. 18th Street, extended East, as measured along said
easterly line and a line perpendicular thereto; thence
southwardly along a straight line, tangent to last
described arc of a circle, a distance of 722.975 feet to
a point which is 434.030 feet (measured perpendicularly)
easterly from the westerly line of said Illinois Central
Railroad right-of-way and 1700.466 feet (measured
perpendicular) northerly of the aforementioned northerly
line of the 23rd Street viaduct; thence southwardly along
the arc of a circle, convex to the East, tangent to last
described straight line, with a radius of 2008.70 feet, a
distance of 160.333 feet to a point which is 424.314 feet
(reassured perpendicularly) easterly from said westerly
right-of-way line and 1546.469 feet (measured
perpendicularly) northerly of said North line of the
23rd Street viaduct; thence southwardly along an arc of a
circle, convex to the East with a radius of 915.13 feet,
a distance of 254.54 feet to a point which is 364.092
feet (measured perpendicularly) easterly from said
westerly right-of-way line and 1300.00 feet (measured
perpendicularly) northerly of said northerly line of the
23rd Street viaduct; thence continuing along an arc of a
circle, convex to the East, with a radius of 2008.70
feet, a distance of 154.214 feet to a point which is
301.631 feet (measured perpendicularly) easterly from
said westerly right-of-way line and 1159.039 feet
(measured perpendicularly) northerly of said northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 184.018 feet to a point
which is 220.680 feet (measured perpendicularly) easterly
from said westerly right-of-way line and 993.782 feet
(measured perpendicularly) northerly from said northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 66.874 feet to a point
which is 220.719 feet (measured perpendicularly) easterly
from said westerly right-of-way line and 926.908 feet
(measured perpendicularly) northerly from the northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 64.946 feet to a point
which is 199.589 feet (measured perpendicularly) easterly
from said westerly right-of-way line and 865.496 feet
(measured perpendicularly) northerly from said northerly
line of the 23rd Street viaduct; thence southwardly along
a straight line, a distance of 865.496 feet to a point on
said northerly line of the 23rd Street viaduct, which is
200.088 feet easterly from said westerly right-of-way
line; and thence eastwardly along the northerly line of
said 23rd Street viaduct, a distance of 433.847 feet to
the point of beginning.
PARCEL B - WEST 23RD STREET
Beginning on the easterly line of said Illinois Central
Railroad Company right-of-way (being also the westerly
line of Burnham Park, as said westerly line is described
in the 1919 Lake Front Ordinance), at the intersection of
the northerly line of the 23rd Street viaduct, being a
line 60.00 feet (measured perpendicularly) northerly of
and parallel with the centerline of the existing
structure; and running thence westwardly along the
northerly line of said 23rd Street viaduct, a distance of
433.847 feet, to a point 200.088 feet easterly from the
westerly line of said Illinois Central Railroad
right-of-way; thence southwardly along a straight line, a
distance of 120.00 feet to a point on the southerly line
of said 23rd Street viaduct (being the southerly line of
the easement granted to the South Park Commissioners
dated September 25, 1922 as document No. 7803194), which
point is 199.773 feet easterly of said westerly
right-of-way line; thence eastwardly along said southerly
line of the 23rd Street viaduct, a distance of 431.789
feet to said easterly right-of-way line; and thence
northwardly along said easterly right-of-way line a
distance of 120.024 feet to the point of beginning,
excepting therefrom that part of the land, property and
space conveyed to Amalgamated Trust and Savings Bank by
deed recorded September 21, 1970 as document No.
21270060, in Cook County, Illinois.
PARCEL C - SOUTH OF 23RD STREET AND NORTH OF NORTH LINE
OF I-55
Beginning on the easterly line of said Illinois Central
Railroad Company right-of-way at the intersection of the
southerly line of the 23rd Street viaduct (being the
southerly line of the easement granted to the South Park
Commissioners dated September 25, 1922 as document No.
7803194); and running thence westwardly along said
southerly line of the 23rd Street viaduct, a distance of
431.789 feet, to a point 199.773 feet easterly from the
westerly line of said Illinois Central Railroad
right-of-way; thence southwardly along a straight line, a
distance of 169.071 feet to a point which is 199.328 feet
(measured perpendicularly) easterly from said westerly
right-of-way line; thence southwardly along a straight
line, a distance of 751.05 feet to a point which is
194.66 feet (measured perpendicularly) easterly from said
westerly right-of-way line and 920.105 feet (measured
perpendicularly) southerly from said southerly line of
the 23rd Street viaduct; thence southwardly along a
straight line whose southerly terminus is a point which
is 143.70 feet easterly from said westerly right-of-way
line and 3387.819 feet northerly of the intersection of
said westerly right-of-way line with the northerly line
of the 31st Street viaduct, (being a line 50.00 feet,
measured perpendicularly, northerly of and parallel with
the South line of the Southeast Fractional Quarter of
said Section 27), as measured along said westerly line
and a line perpendicular thereto, a distance of 179.851
feet to an intersection with a northerly line of the
easement for the overhead bridge structure of the
Southwest Expressway System (as described in Judgment
Order No. 67 L 13579 in the Circuit Court of Cook
County), said northerly line extending from a point of
said westerly right-of-way line, which is 142.47 feet
(measured perpendicularly) North of the easterly
extension of the North line of E. 25th Street (as shown
in Walker Bros. Addition to Chicago, a subdivision in the
Northeast Fractional Quarter of Section 27 aforesaid) to
a point which is 215.07 feet (measured perpendicularly)
North of said easterly extension of the North line of E.
25th Street and 396.19 feet (measured perpendicularly)
westerly of the easterly line of said Illinois central
Railroad right-of-way (being also the westerly line of
Burnham Park, as said westerly line is described by the
City of Chicago by ordinance passed July 21, 1919 and
recorded on March 5, 1920 in the Office of the Recorder
of Deeds of Cook County, Illinois, as document No.
6753370); thence northeastwardly along the northerly line
of the easement aforesaid, a distance of 36.733 feet to a
said point which is 215.07 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street and 396.19 feet (measured
perpendicularly) westerly of said easterly right-of-way
line; thence northeastwardly continuing along said
easement line, being a straight line, a distance of
206.321 feet to a point which is 352.76 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street and 211.49 feet (measured
perpendicularly) westerly of said easterly right-of-way
line; thence northeastwardly continuing along said
easement line, being a straight line, a distance of
206.308 feet to a point which is 537.36 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street and 73.66 feet (measured
perpendicularly) westerly of said easterly right-of-way
line; thence northeastwardly continuing along said
easement line, being a straight line, a distance of
219.688 feet to a point on said easterly right-of-way
line, which point is 756.46 feet (measured
perpendicularly) North of said easterly extension of the
North line of E. 25th Street; and thence northwardly
along said easterly right-of-way line, a distance of
652.596 feet, to the point of beginning. Excepting
therefrom that part of the land, property and space
conveyed to Amalgamated Trust Savings Bank, as Trustee,
under a trust agreement dated January 12, 1978 and known
as Trust No. 3448, in Cook County, Illinois.
PARCEL D
All the space within the boundaries of the following
described perimeter between the horizontal plane of plus
27.00 feet and plus 47.3 feet Chicago City Datum:
Commencing at the Northeast corner of Lot 3 in Block 1 in
McCormick City Subdivision being a resubdivision of
McCormick Inn Subdivision (recorded September 26, 1962 as
Document No. 18601678) and a subdivision of adjacent
lands recorded January 12, 1971 as Document No. 21369281
in Section 27, Township 39 North, Range 14, East of the
Third Principal Meridian, thence Westerly along the
Northerly line of said McCormick Inn Subdivision to a
point which is 77 feet East of the Westerly line of
McCormick Inn Subdivision (lying at +27.00 feet C.C.D.)
for a place of beginning; thence Westerly a distance of
77.00 feet above the horizontal plane +27.00 feet above
Chicago City Datum and below +47.3 feet above Chicago
City Datum to the Northwest corner of McCormick Inn
Subdivision; thence South along the West line of
McCormick Inn Subdivision a distance of 36 feet to a
point; thence East 23 feet to a point along a line which
is perpendicular to the last described line; thence North
12 feet to a point along a line which is perpendicular to
the last described line; thence East 54 feet to a point
along a line which is perpendicular to the last described
line; thence North 24 feet along a line which is
perpendicular to the last described line to the place of
beginning. (Parcel D has been included in this Act to
provide a means for the Authority to acquire an easement
or fee title to a part of McCormick Inn to permit the
construction of the pedestrian spine to connect the
Project with Donnelley Hall.)
Containing 1,419,953 square feet (32.5970 acres) of land,
more or less.
"Site B" means an area of land (including all air rights
related thereto) in the City of Chicago, Cook County,
Illinois, within the following boundaries:
Beginning at the intersection of the north line of
East Cermak Road and the center line of South Indiana
Avenue; thence east along the north line of East Cermak
Road and continuing along said line as said north line of
East Cermak Road is extended, to its intersection with
the westerly line of the right-of-way of the Illinois
Central Gulf Railroad; thence southeasterly along said
line to its intersection with the north line of the
Twenty-third Street viaduct; thence northeasterly along
said line to its intersection with the easterly line of
the right-of-way of the Illinois Central Gulf Railroad;
thence southeasterly along said line to the point of
intersection with the west line of the right-of-way of
the Adlai E. Stevenson Expressway; thence southwesterly
along said line and then west along the inside curve of
the west and north lines of the right-of-way of the Adlai
E. Stevenson Expressway, following the curve of said
right-of-way, and continuing along the north line of the
right-of-way of the Adlai E. Stevenson Expressway to its
intersection with the center line of South Indiana
Avenue; thence northerly along said line to the point of
beginning.
ALSO
Beginning at the intersection of the center line of
East Cermak Road at its intersection with the center line
of South Indiana Avenue; thence northerly along the
center line of South Indiana Avenue to its intersection
with the center line of East Twenty-first Street; thence
easterly along said line to its intersection with the
center line of South Prairie Avenue; thence south along
said line to its intersection with the center line of
East Cermak Road; thence westerly along said line to the
point of beginning.
(Source: P.A. 86-17; 87-733.)
(70 ILCS 210/5) (from Ch. 85, par. 1225)
Sec. 5. The Metropolitan Pier and Exposition Authority
shall also have the following rights and powers:
(a) To accept from Chicago Park Fair, a
corporation, an assignment of whatever sums of money it
may have received from the Fair and Exposition Fund,
allocated by the Department of Agriculture of the State
of Illinois, and Chicago Park Fair is hereby authorized
to assign, set over and transfer any of those funds to
the Metropolitan Pier and Exposition Authority. The
Authority has the right and power hereafter to receive
sums as may be distributed to it by the Department of
Agriculture of the State of Illinois from the Fair and
Exposition Fund pursuant to the provisions of Sections 5,
6i, and 28 of the State Finance Act. All sums received
by the Authority shall be held in the sole custody of the
secretary-treasurer of the Metropolitan Pier and
Exposition Board.
(b) To accept the assignment of, assume and execute
any contracts heretofore entered into by Chicago Park
Fair.
(c) To acquire, own, construct, equip, lease,
operate and maintain grounds, buildings and facilities to
carry out its corporate purposes and duties, and to carry
out or otherwise provide for the recreational, cultural,
commercial or residential development of Navy Pier, and
to fix and collect just, reasonable and nondiscriminatory
charges for the use thereof. The charges so collected
shall be made available to defray the reasonable expenses
of the Authority and to pay the principal of and the
interest upon any revenue bonds issued by the Authority.
The Authority shall be subject to and comply with the
Lake Michigan and Chicago Lakefront Protection Ordinance,
the Chicago Building Code, the Chicago Zoning Ordinance,
and all ordinances and regulations of the City of Chicago
contained in the following Titles of the Municipal Code
of Chicago: Businesses, Occupations and Consumer
Protection; Health and Safety; Fire Prevention; Public
Peace, Morals and Welfare; Utilities and Environmental
Protection; Streets, Public Ways, Parks, Airports and
Harbors; Electrical Equipment and Installation; Housing
and Economic Development (only Chapter 5-4 thereof); and
Revenue and Finance (only so far as such Title pertains
to the Authority's duty to collect taxes on behalf of the
City of Chicago).
(d) To enter into contracts treating in any manner
with the objects and purposes of this Act.
(e) To lease any buildings to the Adjutant General
of the State of Illinois for the use of the Illinois
National Guard or the Illinois Naval Militia.
(f) To exercise the right of eminent domain by
condemnation proceedings in the manner provided by
Article VII of the Code of Civil Procedure, including,
with respect to Site B only, the authority to exercise
quick take condemnation by immediate vesting of title
under Sections 7-103 through 7-112 of the Code of Civil
Procedure, to acquire any privately owned real or
personal property and, with respect to Site B only,
public property used for rail transportation purposes
(but no such taking of such public property shall, in the
reasonable judgment of the owner, interfere with such
rail transportation) for the lawful purposes of the
Authority in Site A, at Navy Pier, and at Site B. Just
compensation for property taken or acquired under this
paragraph shall be paid in money or, notwithstanding any
other provision of this Act and with the agreement of the
owner of the property to be taken or acquired, the
Authority may convey substitute property or interests in
property or enter into agreements with the property
owner, including leases, licenses, or concessions, with
respect to any property owned by the Authority, or may
provide for other lawful forms of just compensation to
the owner. Any property acquired in condemnation
proceedings shall be used only as provided in this Act.
Except as otherwise provided by law, the City of Chicago
shall have a right of first refusal prior to any sale of
any such property by the Authority to a third party other
than substitute property. The Authority shall develop and
implement a relocation plan for businesses displaced as a
result of the Authority's acquisition of property. The
relocation plan shall be substantially similar to
provisions of the Uniform Relocation Assistance and Real
Property Acquisition Act and regulations promulgated
under that Act relating to assistance to displaced
businesses. To implement the relocation plan the
Authority may acquire property by purchase or gift or may
exercise the powers authorized in this subsection (f),
except the immediate vesting of title under Sections
7-103 through 7-112 of the Code of Civil Procedure, to
acquire substitute private property within one mile of
Site B for the benefit of displaced businesses located on
property being acquired by the Authority. However, no
such substitute property may be acquired by the Authority
unless the mayor of the municipality in which the
property is located certifies in writing that the
acquisition is consistent with the municipality's land
use and economic development policies and goals. The
acquisition of substitute property is declared to be for
public use. In exercising the powers authorized in this
subsection (f), the Authority shall use its best efforts
to relocate businesses within the area of McCormick Place
or, failing that, within the City of Chicago.
(g) To enter into contracts relating to
construction projects which provide for the delivery by
the contractor of a completed project, structure,
improvement, or specific portion thereof, for a fixed
maximum price, which contract may provide that the
delivery of the project, structure, improvement, or
specific portion thereof, for the fixed maximum price is
insured or guaranteed by a third party capable of
completing the construction.
(h) To enter into agreements with any person with
respect to the use and occupancy of the grounds,
buildings, and facilities of the Authority, including
concession, license, and lease agreements on terms and
conditions as the Authority determines. Notwithstanding
Section 24, agreements with respect to the use and
occupancy of the grounds, buildings, and facilities of
the Authority for a term of more than one year shall be
entered into in accordance with the procurement process
provided for in Section 25.1.
(i) To enter into agreements with any person with
respect to the operation and management of the grounds,
buildings, and facilities of the Authority or the
provision of goods and services on terms and conditions
as the Authority determines.
(j) After conducting the procurement process
provided for in Section 25.1, to enter into one or more
contracts to provide for the design and construction of
all or part of the Authority's Expansion Project grounds,
buildings, and facilities. Any contract for design and
construction of the Expansion Project shall be in the
form authorized by subsection (g), shall be for a fixed
maximum price not in excess of the funds that are
authorized to be made available under the provisions of
this amendatory Act of 1991 for those purposes during the
term of the contract, and shall be entered into before
commencement of construction.
(k) To enter into agreements, including project
agreements with labor unions, that the Authority deems
necessary to complete the Expansion Project or any other
construction or improvement project in the most timely
and efficient manner and without strikes, picketing, or
other actions that might cause disruption or delay and
thereby add to the cost of the project.
(l) Nothing in this amendatory Act of 1991 shall be
construed to authorize the Authority to spend the proceeds of
any bonds or notes issued under Section 13.2 or any taxes
levied under Section 13 this amendatory Act of 1991 to
construct a stadium to be leased to or used by professional
sports teams.
(Source: P.A. 87-733; 88-193; revised 10-31-98.)
(70 ILCS 210/13.2) (from Ch. 85, par. 1233.2)
Sec. 13.2. The McCormick Place Expansion Project Fund is
created in the State Treasury. All moneys in the McCormick
Place Expansion Project Fund are allocated to and shall be
appropriated and used only for the purposes authorized by and
subject to the limitations and conditions of this Section
subsection. Those amounts may be appropriated by law to the
Authority for the purposes of paying the debt service
requirements on all bonds and notes, including refunding
bonds and notes issued to refund or advance refund bonds and
notes issued under this Section or issued to refund or
advance refund bonds and notes otherwise issued under this
Act, (collectively referred to as "bonds") to be issued by
the Authority under this Section in an aggregate original
principal amount (excluding the amount of any refunding bonds
and notes issued to refund or advance refund bonds or notes
issued under this Section) not to exceed $1,307,000,000
$1,037,000,000 for the purposes of carrying out and
performing its duties and exercising its powers under this
Act. No refunding bonds issued to refund or advance refund
bonds issued under this Section may mature later than the
longest maturity date of the series of bonds being refunded.
After the aggregate original principal amount of bonds
authorized in this Section subsection has been issued, the
payment of any principal amount of such bonds does not
authorize the issuance of additional bonds (except refunding
bonds).
On the first day of each month commencing after July 1,
1993, amounts, if any, on deposit in the McCormick Place
Expansion Project Fund shall, subject to appropriation, be
paid in full to the Authority or, upon its direction, to the
trustee or trustees for bondholders of bonds that by their
terms are payable from the moneys received from the McCormick
Place Expansion Project Fund, until an amount equal to 100%
of the aggregate amount of the principal and interest in the
fiscal year, including that pursuant to sinking fund
requirements, has been so paid and deficiencies in reserves
shall have been remedied.
The State of Illinois pledges to and agrees with the
holders of the bonds of the Metropolitan Pier and Exposition
Authority issued under this Section that the State will not
limit or alter the rights and powers vested in the Authority
by this Act so as to impair the terms of any contract made by
the Authority with those holders or in any way impair the
rights and remedies of those holders until the bonds,
together with interest thereon, interest on any unpaid
installments of interest, and all costs and expenses in
connection with any action or proceedings by or on behalf of
those holders are fully met and discharged; provided that any
increase in the Tax Act Amounts specified in Section 3 of the
Retailers' Occupation Tax Act, Section 9 of the Use Tax Act,
Section 9 of the Service Use Tax Act, and Section 9 of the
Service Occupation Tax Act required to be deposited into the
Build Illinois Bond Account in the Build Illinois Fund
pursuant to any law hereafter enacted shall not be deemed to
impair the rights of such holders so long as the increase
does not result in the aggregate debt service payable in the
current or any future fiscal year of the State on all bonds
issued pursuant to the Build Illinois Bond Act and the
Metropolitan Pier and Exposition Authority Act and payable
from tax revenues specified in Section 3 of the Retailers'
Occupation Tax Act, Section 9 of the Use Tax Act, Section 9
of the Service Use Tax Act, and Section 9 of the Service
Occupation Tax Act exceeding 33 1/3% of such tax revenues for
the most recently completed fiscal year of the State at the
time of such increase. In addition, the State pledges to and
agrees with the holders of the bonds of the Authority issued
under this Section that the State will not limit or alter the
basis on which State funds are to be paid to the Authority as
provided in this Act or the use of those funds so as to
impair the terms of any such contract; provided that any
increase in the Tax Act Amounts specified in Section 3 of the
Retailers' Occupation Tax Act, Section 9 of the Use Tax Act,
Section 9 of the Service Use Tax Act, and Section 9 of the
Service Occupation Tax Act required to be deposited into the
Build Illinois Bond Account in the Build Illinois Fund
pursuant to any law hereafter enacted shall not be deemed to
impair the terms of any such contract so long as the increase
does not result in the aggregate debt service payable in the
current or any future fiscal year of the State on all bonds
issued pursuant to the Build Illinois Bond Act and the
Metropolitan Pier and Exposition Authority Act and payable
from tax revenues specified in Section 3 of the Retailers'
Occupation Tax Act, Section 9 of the Use Tax Act, Section 9
of the Service Use Tax Act, and Section 9 of the Service
Occupation Tax Act exceeding 33 1/3% of such tax revenues for
the most recently completed fiscal year of the State at the
time of such increase. The Authority is authorized to include
these pledges and agreements with the State in any contract
with the holders of bonds issued under this Section.
The State shall not be liable on bonds of the Authority
issued under this Section those bonds shall not be a debt of
the State, and this Act shall not be construed as a guarantee
by the State of the debts of the Authority. The bonds shall
contain a statement to this effect on the face of the bonds.
(Source: P.A. 90-612, eff. 7-8-98.)
Section 99. Effective date. This Act takes effect upon
becoming law.
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