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91_SB1453eng
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1 AN ACT concerning taxation, amending named Acts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Use Tax Act is amended by changing
5 Section 9 as follows:
6 (35 ILCS 105/9) (from Ch. 120, par. 439.9)
7 Sec. 9. Except as to motor vehicles, watercraft,
8 aircraft, and trailers that are required to be registered
9 with an agency of this State, each retailer required or
10 authorized to collect the tax imposed by this Act shall pay
11 to the Department the amount of such tax (except as otherwise
12 provided) at the time when he is required to file his return
13 for the period during which such tax was collected, less a
14 discount of 2.1% prior to January 1, 1990, and 1.75% on and
15 after January 1, 1990, or $5 per calendar year, whichever is
16 greater, which is allowed to reimburse the retailer for
17 expenses incurred in collecting the tax, keeping records,
18 preparing and filing returns, remitting the tax and supplying
19 data to the Department on request. In the case of retailers
20 who report and pay the tax on a transaction by transaction
21 basis, as provided in this Section, such discount shall be
22 taken with each such tax remittance instead of when such
23 retailer files his periodic return. A retailer need not
24 remit that part of any tax collected by him to the extent
25 that he is required to remit and does remit the tax imposed
26 by the Retailers' Occupation Tax Act, with respect to the
27 sale of the same property.
28 Where such tangible personal property is sold under a
29 conditional sales contract, or under any other form of sale
30 wherein the payment of the principal sum, or a part thereof,
31 is extended beyond the close of the period for which the
32 return is filed, the retailer, in collecting the tax (except
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1 as to motor vehicles, watercraft, aircraft, and trailers that
2 are required to be registered with an agency of this State),
3 may collect for each tax return period, only the tax
4 applicable to that part of the selling price actually
5 received during such tax return period.
6 Except as provided in this Section, on or before the
7 twentieth day of each calendar month, such retailer shall
8 file a return for the preceding calendar month. Such return
9 shall be filed on forms prescribed by the Department and
10 shall furnish such information as the Department may
11 reasonably require.
12 The Department may require returns to be filed on a
13 quarterly basis. If so required, a return for each calendar
14 quarter shall be filed on or before the twentieth day of the
15 calendar month following the end of such calendar quarter.
16 The taxpayer shall also file a return with the Department for
17 each of the first two months of each calendar quarter, on or
18 before the twentieth day of the following calendar month,
19 stating:
20 1. The name of the seller;
21 2. The address of the principal place of business
22 from which he engages in the business of selling tangible
23 personal property at retail in this State;
24 3. The total amount of taxable receipts received by
25 him during the preceding calendar month from sales of
26 tangible personal property by him during such preceding
27 calendar month, including receipts from charge and time
28 sales, but less all deductions allowed by law;
29 4. The amount of credit provided in Section 2d of
30 this Act;
31 5. The amount of tax due;
32 5-5. The signature of the taxpayer; and
33 6. Such other reasonable information as the
34 Department may require.
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1 If a taxpayer fails to sign a return within 30 days after
2 the proper notice and demand for signature by the Department,
3 the return shall be considered valid and any amount shown to
4 be due on the return shall be deemed assessed.
5 Beginning October 1, 1993, a taxpayer who has an average
6 monthly tax liability of $150,000 or more shall make all
7 payments required by rules of the Department by electronic
8 funds transfer. Beginning October 1, 1994, a taxpayer who has
9 an average monthly tax liability of $100,000 or more shall
10 make all payments required by rules of the Department by
11 electronic funds transfer. Beginning October 1, 1995, a
12 taxpayer who has an average monthly tax liability of $50,000
13 or more shall make all payments required by rules of the
14 Department by electronic funds transfer. Beginning October 1,
15 2000, a taxpayer who has an annual tax liability of $200,000
16 or more shall make all payments required by rules of the
17 Department by electronic funds transfer. The term "annual
18 tax liability" shall be the sum of the taxpayer's liabilities
19 under this Act, and under all other State and local
20 occupation and use tax laws administered by the Department,
21 for the immediately preceding calendar year. The term
22 "average monthly tax liability" means the sum of the
23 taxpayer's liabilities under this Act, and under all other
24 State and local occupation and use tax laws administered by
25 the Department, for the immediately preceding calendar year
26 divided by 12.
27 Before August 1 of each year beginning in 1993, the
28 Department shall notify all taxpayers required to make
29 payments by electronic funds transfer. All taxpayers required
30 to make payments by electronic funds transfer shall make
31 those payments for a minimum of one year beginning on October
32 1.
33 Any taxpayer not required to make payments by electronic
34 funds transfer may make payments by electronic funds transfer
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1 with the permission of the Department.
2 All taxpayers required to make payment by electronic
3 funds transfer and any taxpayers authorized to voluntarily
4 make payments by electronic funds transfer shall make those
5 payments in the manner authorized by the Department.
6 The Department shall adopt such rules as are necessary to
7 effectuate a program of electronic funds transfer and the
8 requirements of this Section.
9 Before October 1, 2000, if the taxpayer's average monthly
10 tax liability to the Department under this Act, the
11 Retailers' Occupation Tax Act, the Service Occupation Tax
12 Act, the Service Use Tax Act was $10,000 or more during the
13 preceding 4 complete calendar quarters, he shall file a
14 return with the Department each month by the 20th day of the
15 month next following the month during which such tax
16 liability is incurred and shall make payments to the
17 Department on or before the 7th, 15th, 22nd and last day of
18 the month during which such liability is incurred. On and
19 after October 1, 2000, if the taxpayer's average monthly tax
20 liability to the Department under this Act, the Retailers'
21 Occupation Tax Act, the Service Occupation Tax Act, and the
22 Service Use Tax Act was $20,000 or more during the preceding
23 4 complete calendar quarters, he shall file a return with the
24 Department each month by the 20th day of the month next
25 following the month during which such tax liability is
26 incurred and shall make payment to the Department on or
27 before the 7th, 15th, 22nd and last day of or the month
28 during which such liability is incurred. If the month during
29 which such tax liability is incurred began prior to January
30 1, 1985, each payment shall be in an amount equal to 1/4 of
31 the taxpayer's actual liability for the month or an amount
32 set by the Department not to exceed 1/4 of the average
33 monthly liability of the taxpayer to the Department for the
34 preceding 4 complete calendar quarters (excluding the month
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1 of highest liability and the month of lowest liability in
2 such 4 quarter period). If the month during which such tax
3 liability is incurred begins on or after January 1, 1985, and
4 prior to January 1, 1987, each payment shall be in an amount
5 equal to 22.5% of the taxpayer's actual liability for the
6 month or 27.5% of the taxpayer's liability for the same
7 calendar month of the preceding year. If the month during
8 which such tax liability is incurred begins on or after
9 January 1, 1987, and prior to January 1, 1988, each payment
10 shall be in an amount equal to 22.5% of the taxpayer's actual
11 liability for the month or 26.25% of the taxpayer's liability
12 for the same calendar month of the preceding year. If the
13 month during which such tax liability is incurred begins on
14 or after January 1, 1988, and prior to January 1, 1989, or
15 begins on or after January 1, 1996, each payment shall be in
16 an amount equal to 22.5% of the taxpayer's actual liability
17 for the month or 25% of the taxpayer's liability for the same
18 calendar month of the preceding year. If the month during
19 which such tax liability is incurred begins on or after
20 January 1, 1989, and prior to January 1, 1996, each payment
21 shall be in an amount equal to 22.5% of the taxpayer's actual
22 liability for the month or 25% of the taxpayer's liability
23 for the same calendar month of the preceding year or 100% of
24 the taxpayer's actual liability for the quarter monthly
25 reporting period. The amount of such quarter monthly
26 payments shall be credited against the final tax liability of
27 the taxpayer's return for that month. Before October 1,
28 2000, once applicable, the requirement of the making of
29 quarter monthly payments to the Department shall continue
30 until such taxpayer's average monthly liability to the
31 Department during the preceding 4 complete calendar quarters
32 (excluding the month of highest liability and the month of
33 lowest liability) is less than $9,000, or until such
34 taxpayer's average monthly liability to the Department as
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1 computed for each calendar quarter of the 4 preceding
2 complete calendar quarter period is less than $10,000.
3 However, if a taxpayer can show the Department that a
4 substantial change in the taxpayer's business has occurred
5 which causes the taxpayer to anticipate that his average
6 monthly tax liability for the reasonably foreseeable future
7 will fall below the $10,000 threshold stated above, then such
8 taxpayer may petition the Department for change in such
9 taxpayer's reporting status. On and after October 1, 2000,
10 once applicable, the requirement of the making of quarter
11 monthly payments to the Department shall continue until such
12 taxpayer's average monthly liability to the Department during
13 the preceding 4 complete calendar quarters (excluding the
14 month of highest liability and the month of lowest liability)
15 is less than $19,000 or until such taxpayer's average monthly
16 liability to the Department as computed for each calendar
17 quarter of the 4 preceding complete calendar quarter period
18 is less than $20,000. However, if a taxpayer can show the
19 Department that a substantial change in the taxpayer's
20 business has occurred which causes the taxpayer to anticipate
21 that his average monthly tax liability for the reasonably
22 foreseeable future will fall below the $20,000 threshold
23 stated above, then such taxpayer may petition the Department
24 for a change in such taxpayer's reporting status. The
25 Department shall change such taxpayer's reporting status
26 unless it finds that such change is seasonal in nature and
27 not likely to be long term. If any such quarter monthly
28 payment is not paid at the time or in the amount required by
29 this Section, then the taxpayer shall be liable for penalties
30 and interest on the difference between the minimum amount due
31 and the amount of such quarter monthly payment actually and
32 timely paid, except insofar as the taxpayer has previously
33 made payments for that month to the Department in excess of
34 the minimum payments previously due as provided in this
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1 Section. The Department shall make reasonable rules and
2 regulations to govern the quarter monthly payment amount and
3 quarter monthly payment dates for taxpayers who file on other
4 than a calendar monthly basis.
5 If any such payment provided for in this Section exceeds
6 the taxpayer's liabilities under this Act, the Retailers'
7 Occupation Tax Act, the Service Occupation Tax Act and the
8 Service Use Tax Act, as shown by an original monthly return,
9 the Department shall issue to the taxpayer a credit
10 memorandum no later than 30 days after the date of payment,
11 which memorandum may be submitted by the taxpayer to the
12 Department in payment of tax liability subsequently to be
13 remitted by the taxpayer to the Department or be assigned by
14 the taxpayer to a similar taxpayer under this Act, the
15 Retailers' Occupation Tax Act, the Service Occupation Tax Act
16 or the Service Use Tax Act, in accordance with reasonable
17 rules and regulations to be prescribed by the Department,
18 except that if such excess payment is shown on an original
19 monthly return and is made after December 31, 1986, no credit
20 memorandum shall be issued, unless requested by the taxpayer.
21 If no such request is made, the taxpayer may credit such
22 excess payment against tax liability subsequently to be
23 remitted by the taxpayer to the Department under this Act,
24 the Retailers' Occupation Tax Act, the Service Occupation Tax
25 Act or the Service Use Tax Act, in accordance with reasonable
26 rules and regulations prescribed by the Department. If the
27 Department subsequently determines that all or any part of
28 the credit taken was not actually due to the taxpayer, the
29 taxpayer's 2.1% or 1.75% vendor's discount shall be reduced
30 by 2.1% or 1.75% of the difference between the credit taken
31 and that actually due, and the taxpayer shall be liable for
32 penalties and interest on such difference.
33 If the retailer is otherwise required to file a monthly
34 return and if the retailer's average monthly tax liability to
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1 the Department does not exceed $200, the Department may
2 authorize his returns to be filed on a quarter annual basis,
3 with the return for January, February, and March of a given
4 year being due by April 20 of such year; with the return for
5 April, May and June of a given year being due by July 20 of
6 such year; with the return for July, August and September of
7 a given year being due by October 20 of such year, and with
8 the return for October, November and December of a given year
9 being due by January 20 of the following year.
10 If the retailer is otherwise required to file a monthly
11 or quarterly return and if the retailer's average monthly tax
12 liability to the Department does not exceed $50, the
13 Department may authorize his returns to be filed on an annual
14 basis, with the return for a given year being due by January
15 20 of the following year.
16 Such quarter annual and annual returns, as to form and
17 substance, shall be subject to the same requirements as
18 monthly returns.
19 Notwithstanding any other provision in this Act
20 concerning the time within which a retailer may file his
21 return, in the case of any retailer who ceases to engage in a
22 kind of business which makes him responsible for filing
23 returns under this Act, such retailer shall file a final
24 return under this Act with the Department not more than one
25 month after discontinuing such business.
26 In addition, with respect to motor vehicles, watercraft,
27 aircraft, and trailers that are required to be registered
28 with an agency of this State, every retailer selling this
29 kind of tangible personal property shall file, with the
30 Department, upon a form to be prescribed and supplied by the
31 Department, a separate return for each such item of tangible
32 personal property which the retailer sells, except that
33 where, in the same transaction, a retailer of aircraft,
34 watercraft, motor vehicles or trailers transfers more than
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1 one aircraft, watercraft, motor vehicle or trailer to another
2 aircraft, watercraft, motor vehicle or trailer retailer for
3 the purpose of resale, that seller for resale may report the
4 transfer of all the aircraft, watercraft, motor vehicles or
5 trailers involved in that transaction to the Department on
6 the same uniform invoice-transaction reporting return form.
7 For purposes of this Section, "watercraft" means a Class 2,
8 Class 3, or Class 4 watercraft as defined in Section 3-2 of
9 the Boat Registration and Safety Act, a personal watercraft,
10 or any boat equipped with an inboard motor.
11 The transaction reporting return in the case of motor
12 vehicles or trailers that are required to be registered with
13 an agency of this State, shall be the same document as the
14 Uniform Invoice referred to in Section 5-402 of the Illinois
15 Vehicle Code and must show the name and address of the
16 seller; the name and address of the purchaser; the amount of
17 the selling price including the amount allowed by the
18 retailer for traded-in property, if any; the amount allowed
19 by the retailer for the traded-in tangible personal property,
20 if any, to the extent to which Section 2 of this Act allows
21 an exemption for the value of traded-in property; the balance
22 payable after deducting such trade-in allowance from the
23 total selling price; the amount of tax due from the retailer
24 with respect to such transaction; the amount of tax collected
25 from the purchaser by the retailer on such transaction (or
26 satisfactory evidence that such tax is not due in that
27 particular instance, if that is claimed to be the fact); the
28 place and date of the sale; a sufficient identification of
29 the property sold; such other information as is required in
30 Section 5-402 of the Illinois Vehicle Code, and such other
31 information as the Department may reasonably require.
32 The transaction reporting return in the case of
33 watercraft and aircraft must show the name and address of the
34 seller; the name and address of the purchaser; the amount of
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1 the selling price including the amount allowed by the
2 retailer for traded-in property, if any; the amount allowed
3 by the retailer for the traded-in tangible personal property,
4 if any, to the extent to which Section 2 of this Act allows
5 an exemption for the value of traded-in property; the balance
6 payable after deducting such trade-in allowance from the
7 total selling price; the amount of tax due from the retailer
8 with respect to such transaction; the amount of tax collected
9 from the purchaser by the retailer on such transaction (or
10 satisfactory evidence that such tax is not due in that
11 particular instance, if that is claimed to be the fact); the
12 place and date of the sale, a sufficient identification of
13 the property sold, and such other information as the
14 Department may reasonably require.
15 Such transaction reporting return shall be filed not
16 later than 20 days after the date of delivery of the item
17 that is being sold, but may be filed by the retailer at any
18 time sooner than that if he chooses to do so. The
19 transaction reporting return and tax remittance or proof of
20 exemption from the tax that is imposed by this Act may be
21 transmitted to the Department by way of the State agency with
22 which, or State officer with whom, the tangible personal
23 property must be titled or registered (if titling or
24 registration is required) if the Department and such agency
25 or State officer determine that this procedure will expedite
26 the processing of applications for title or registration.
27 With each such transaction reporting return, the retailer
28 shall remit the proper amount of tax due (or shall submit
29 satisfactory evidence that the sale is not taxable if that is
30 the case), to the Department or its agents, whereupon the
31 Department shall issue, in the purchaser's name, a tax
32 receipt (or a certificate of exemption if the Department is
33 satisfied that the particular sale is tax exempt) which such
34 purchaser may submit to the agency with which, or State
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1 officer with whom, he must title or register the tangible
2 personal property that is involved (if titling or
3 registration is required) in support of such purchaser's
4 application for an Illinois certificate or other evidence of
5 title or registration to such tangible personal property.
6 No retailer's failure or refusal to remit tax under this
7 Act precludes a user, who has paid the proper tax to the
8 retailer, from obtaining his certificate of title or other
9 evidence of title or registration (if titling or registration
10 is required) upon satisfying the Department that such user
11 has paid the proper tax (if tax is due) to the retailer. The
12 Department shall adopt appropriate rules to carry out the
13 mandate of this paragraph.
14 If the user who would otherwise pay tax to the retailer
15 wants the transaction reporting return filed and the payment
16 of tax or proof of exemption made to the Department before
17 the retailer is willing to take these actions and such user
18 has not paid the tax to the retailer, such user may certify
19 to the fact of such delay by the retailer, and may (upon the
20 Department being satisfied of the truth of such
21 certification) transmit the information required by the
22 transaction reporting return and the remittance for tax or
23 proof of exemption directly to the Department and obtain his
24 tax receipt or exemption determination, in which event the
25 transaction reporting return and tax remittance (if a tax
26 payment was required) shall be credited by the Department to
27 the proper retailer's account with the Department, but
28 without the 2.1% or 1.75% discount provided for in this
29 Section being allowed. When the user pays the tax directly
30 to the Department, he shall pay the tax in the same amount
31 and in the same form in which it would be remitted if the tax
32 had been remitted to the Department by the retailer.
33 Where a retailer collects the tax with respect to the
34 selling price of tangible personal property which he sells
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1 and the purchaser thereafter returns such tangible personal
2 property and the retailer refunds the selling price thereof
3 to the purchaser, such retailer shall also refund, to the
4 purchaser, the tax so collected from the purchaser. When
5 filing his return for the period in which he refunds such tax
6 to the purchaser, the retailer may deduct the amount of the
7 tax so refunded by him to the purchaser from any other use
8 tax which such retailer may be required to pay or remit to
9 the Department, as shown by such return, if the amount of the
10 tax to be deducted was previously remitted to the Department
11 by such retailer. If the retailer has not previously
12 remitted the amount of such tax to the Department, he is
13 entitled to no deduction under this Act upon refunding such
14 tax to the purchaser.
15 Any retailer filing a return under this Section shall
16 also include (for the purpose of paying tax thereon) the
17 total tax covered by such return upon the selling price of
18 tangible personal property purchased by him at retail from a
19 retailer, but as to which the tax imposed by this Act was not
20 collected from the retailer filing such return, and such
21 retailer shall remit the amount of such tax to the Department
22 when filing such return.
23 If experience indicates such action to be practicable,
24 the Department may prescribe and furnish a combination or
25 joint return which will enable retailers, who are required to
26 file returns hereunder and also under the Retailers'
27 Occupation Tax Act, to furnish all the return information
28 required by both Acts on the one form.
29 Where the retailer has more than one business registered
30 with the Department under separate registration under this
31 Act, such retailer may not file each return that is due as a
32 single return covering all such registered businesses, but
33 shall file separate returns for each such registered
34 business.
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1 Beginning January 1, 1990, each month the Department
2 shall pay into the State and Local Sales Tax Reform Fund, a
3 special fund in the State Treasury which is hereby created,
4 the net revenue realized for the preceding month from the 1%
5 tax on sales of food for human consumption which is to be
6 consumed off the premises where it is sold (other than
7 alcoholic beverages, soft drinks and food which has been
8 prepared for immediate consumption) and prescription and
9 nonprescription medicines, drugs, medical appliances and
10 insulin, urine testing materials, syringes and needles used
11 by diabetics.
12 Beginning January 1, 1990, each month the Department
13 shall pay into the County and Mass Transit District Fund 4%
14 of the net revenue realized for the preceding month from the
15 6.25% general rate on the selling price of tangible personal
16 property which is purchased outside Illinois at retail from a
17 retailer and which is titled or registered by an agency of
18 this State's government.
19 Beginning January 1, 1990, each month the Department
20 shall pay into the State and Local Sales Tax Reform Fund, a
21 special fund in the State Treasury, 20% of the net revenue
22 realized for the preceding month from the 6.25% general rate
23 on the selling price of tangible personal property, other
24 than tangible personal property which is purchased outside
25 Illinois at retail from a retailer and which is titled or
26 registered by an agency of this State's government.
27 Beginning January 1, 1990, each month the Department
28 shall pay into the Local Government Tax Fund 16% of the net
29 revenue realized for the preceding month from the 6.25%
30 general rate on the selling price of tangible personal
31 property which is purchased outside Illinois at retail from a
32 retailer and which is titled or registered by an agency of
33 this State's government.
34 Of the remainder of the moneys received by the Department
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1 pursuant to this Act, (a) 1.75% thereof shall be paid into
2 the Build Illinois Fund and (b) prior to July 1, 1989, 2.2%
3 and on and after July 1, 1989, 3.8% thereof shall be paid
4 into the Build Illinois Fund; provided, however, that if in
5 any fiscal year the sum of (1) the aggregate of 2.2% or 3.8%,
6 as the case may be, of the moneys received by the Department
7 and required to be paid into the Build Illinois Fund pursuant
8 to Section 3 of the Retailers' Occupation Tax Act, Section 9
9 of the Use Tax Act, Section 9 of the Service Use Tax Act, and
10 Section 9 of the Service Occupation Tax Act, such Acts being
11 hereinafter called the "Tax Acts" and such aggregate of 2.2%
12 or 3.8%, as the case may be, of moneys being hereinafter
13 called the "Tax Act Amount", and (2) the amount transferred
14 to the Build Illinois Fund from the State and Local Sales Tax
15 Reform Fund shall be less than the Annual Specified Amount
16 (as defined in Section 3 of the Retailers' Occupation Tax
17 Act), an amount equal to the difference shall be immediately
18 paid into the Build Illinois Fund from other moneys received
19 by the Department pursuant to the Tax Acts; and further
20 provided, that if on the last business day of any month the
21 sum of (1) the Tax Act Amount required to be deposited into
22 the Build Illinois Bond Account in the Build Illinois Fund
23 during such month and (2) the amount transferred during such
24 month to the Build Illinois Fund from the State and Local
25 Sales Tax Reform Fund shall have been less than 1/12 of the
26 Annual Specified Amount, an amount equal to the difference
27 shall be immediately paid into the Build Illinois Fund from
28 other moneys received by the Department pursuant to the Tax
29 Acts; and, further provided, that in no event shall the
30 payments required under the preceding proviso result in
31 aggregate payments into the Build Illinois Fund pursuant to
32 this clause (b) for any fiscal year in excess of the greater
33 of (i) the Tax Act Amount or (ii) the Annual Specified Amount
34 for such fiscal year; and, further provided, that the amounts
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1 payable into the Build Illinois Fund under this clause (b)
2 shall be payable only until such time as the aggregate amount
3 on deposit under each trust indenture securing Bonds issued
4 and outstanding pursuant to the Build Illinois Bond Act is
5 sufficient, taking into account any future investment income,
6 to fully provide, in accordance with such indenture, for the
7 defeasance of or the payment of the principal of, premium, if
8 any, and interest on the Bonds secured by such indenture and
9 on any Bonds expected to be issued thereafter and all fees
10 and costs payable with respect thereto, all as certified by
11 the Director of the Bureau of the Budget. If on the last
12 business day of any month in which Bonds are outstanding
13 pursuant to the Build Illinois Bond Act, the aggregate of the
14 moneys deposited in the Build Illinois Bond Account in the
15 Build Illinois Fund in such month shall be less than the
16 amount required to be transferred in such month from the
17 Build Illinois Bond Account to the Build Illinois Bond
18 Retirement and Interest Fund pursuant to Section 13 of the
19 Build Illinois Bond Act, an amount equal to such deficiency
20 shall be immediately paid from other moneys received by the
21 Department pursuant to the Tax Acts to the Build Illinois
22 Fund; provided, however, that any amounts paid to the Build
23 Illinois Fund in any fiscal year pursuant to this sentence
24 shall be deemed to constitute payments pursuant to clause (b)
25 of the preceding sentence and shall reduce the amount
26 otherwise payable for such fiscal year pursuant to clause (b)
27 of the preceding sentence. The moneys received by the
28 Department pursuant to this Act and required to be deposited
29 into the Build Illinois Fund are subject to the pledge, claim
30 and charge set forth in Section 12 of the Build Illinois Bond
31 Act.
32 Subject to payment of amounts into the Build Illinois
33 Fund as provided in the preceding paragraph or in any
34 amendment thereto hereafter enacted, the following specified
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1 monthly installment of the amount requested in the
2 certificate of the Chairman of the Metropolitan Pier and
3 Exposition Authority provided under Section 8.25f of the
4 State Finance Act, but not in excess of the sums designated
5 as "Total Deposit", shall be deposited in the aggregate from
6 collections under Section 9 of the Use Tax Act, Section 9 of
7 the Service Use Tax Act, Section 9 of the Service Occupation
8 Tax Act, and Section 3 of the Retailers' Occupation Tax Act
9 into the McCormick Place Expansion Project Fund in the
10 specified fiscal years.
11 Fiscal Year Total Deposit
12 1993 $0
13 1994 53,000,000
14 1995 58,000,000
15 1996 61,000,000
16 1997 64,000,000
17 1998 68,000,000
18 1999 71,000,000
19 2000 75,000,000
20 2001 80,000,000
21 2002 84,000,000
22 2003 89,000,000
23 2004 93,000,000
24 2005 97,000,000
25 2006 102,000,000
26 2007 108,000,000
27 2008 115,000,000
28 2009 120,000,000
29 2010 126,000,000
30 2011 132,000,000
31 2012 138,000,000
32 2013 and 145,000,000
33 each fiscal year
34 thereafter that bonds
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1 are outstanding under
2 Section 13.2 of the
3 Metropolitan Pier and
4 Exposition Authority
5 Act, but not after fiscal year 2029.
6 Beginning July 20, 1993 and in each month of each fiscal
7 year thereafter, one-eighth of the amount requested in the
8 certificate of the Chairman of the Metropolitan Pier and
9 Exposition Authority for that fiscal year, less the amount
10 deposited into the McCormick Place Expansion Project Fund by
11 the State Treasurer in the respective month under subsection
12 (g) of Section 13 of the Metropolitan Pier and Exposition
13 Authority Act, plus cumulative deficiencies in the deposits
14 required under this Section for previous months and years,
15 shall be deposited into the McCormick Place Expansion Project
16 Fund, until the full amount requested for the fiscal year,
17 but not in excess of the amount specified above as "Total
18 Deposit", has been deposited.
19 Subject to payment of amounts into the Build Illinois
20 Fund and the McCormick Place Expansion Project Fund pursuant
21 to the preceding paragraphs or in any amendment thereto
22 hereafter enacted, each month the Department shall pay into
23 the Local Government Distributive Fund .4% of the net revenue
24 realized for the preceding month from the 5% general rate, or
25 .4% of 80% of the net revenue realized for the preceding
26 month from the 6.25% general rate, as the case may be, on the
27 selling price of tangible personal property which amount
28 shall, subject to appropriation, be distributed as provided
29 in Section 2 of the State Revenue Sharing Act. No payments or
30 distributions pursuant to this paragraph shall be made if the
31 tax imposed by this Act on photoprocessing products is
32 declared unconstitutional, or if the proceeds from such tax
33 are unavailable for distribution because of litigation.
34 Subject to payment of amounts into the Build Illinois
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1 Fund, the McCormick Place Expansion Project Fund, and the
2 Local Government Distributive Fund pursuant to the preceding
3 paragraphs or in any amendments thereto hereafter enacted,
4 beginning July 1, 1993, the Department shall each month pay
5 into the Illinois Tax Increment Fund 0.27% of 80% of the net
6 revenue realized for the preceding month from the 6.25%
7 general rate on the selling price of tangible personal
8 property.
9 Of the remainder of the moneys received by the Department
10 pursuant to this Act, 75% thereof shall be paid into the
11 State Treasury and 25% shall be reserved in a special account
12 and used only for the transfer to the Common School Fund as
13 part of the monthly transfer from the General Revenue Fund in
14 accordance with Section 8a of the State Finance Act.
15 As soon as possible after the first day of each month,
16 upon certification of the Department of Revenue, the
17 Comptroller shall order transferred and the Treasurer shall
18 transfer from the General Revenue Fund to the Motor Fuel Tax
19 Fund an amount equal to 1.7% of 80% of the net revenue
20 realized under this Act for the second preceding month.
21 Beginning April 1, 2000, this transfer is no longer required
22 and shall not be made.
23 Net revenue realized for a month shall be the revenue
24 collected by the State pursuant to this Act, less the amount
25 paid out during that month as refunds to taxpayers for
26 overpayment of liability.
27 For greater simplicity of administration, manufacturers,
28 importers and wholesalers whose products are sold at retail
29 in Illinois by numerous retailers, and who wish to do so, may
30 assume the responsibility for accounting and paying to the
31 Department all tax accruing under this Act with respect to
32 such sales, if the retailers who are affected do not make
33 written objection to the Department to this arrangement.
34 (Source: P.A. 90-491, eff. 1-1-99; 90-612, eff. 7-8-98;
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1 91-37, eff. 7-1-99; 91-51, eff. 6-30-99; 91-101, eff.
2 7-12-99; 91-541, eff. 8-13-99; revised 9-29-99.)
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