SB2957 104TH GENERAL ASSEMBLY

LRB104 16966 SPS 30380 b

104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB2957

Introduced 1/27/2026, by Sen. Steve Stadelman

SYNOPSIS AS INTRODUCED:

New Act
815 ILCS 505/2MMMM new

Creates the Tariff Transparency Act. Provides that a retail establishment shall disclose the percentage or dollar amount of the retail price of a retail product that is attributable to tariffs. Sets forth requirements for the disclosure. Requires retail establishments and wholesale trade firms to maintain specified records. Provides that all retail establishments subject to the Act shall be subject to periodic audits. Provides that a violation of the Act is an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Sets forth provisions concerning exemptions; rulemaking; public notice; and a compliance schedule. Amends the Consumer Fraud and Deceptive Business Practices Act to make a conforming change. Effective 90 days after becoming law.

A BILL FOR

AN ACT concerning business.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 1. Short title. This Act may be cited as the Tariff Transparency Act.

Section 5. Definitions. As used in this Act:

"Consumer" means a natural person living in this State.

"Retail establishment" means any business establishment, operating at a physical or virtual location, that engages in selling retail products or services directly to consumers in this State.

"Retail price" means the posted price available to any customer of the retail establishment.

"Retail product" means any merchandise, article, or commodity of any kind or class produced, distributed, or offered for retail sale for consumption by individuals other than at the retail establishment, or in the performance of services rendered within the household, and that is consumed or expended in the course of use.

"Tariff" means any duty or trade-related import tax paid, as required by United States Customs and Border Protection, on any incoming raw material, component, or retail product at the point of entry.

"Wholesale trade firm" means any business establishment that purchases raw materials, components, or retail products in bulk quantities for the purpose of reselling the goods to retail establishments.

Section 10. Tariff cost disclosure.

(a) A retail establishment shall disclose the percentage or dollar amount of the retail price of a retail product that is attributable to tariffs.

(b) The disclosure of the tariff portion of the retail price required under subsection (a) shall be:

(1) visible on the point of sale display tag;

(2) visible on the online product page;

(3) itemized on the printed receipt provided at the conclusion of the point of sale transaction; or

(4) disclosed in a manner deemed appropriate by the Attorney General.

Section 15. Recordkeeping requirements.

(a) A retail establishment shall maintain records of tariff calculations based on, as applicable, wholesale invoices, customs invoices, tariffs schedules, and import duty records.

(b) A wholesale trade firm that provides retail products to retail establishments shall maintain records on tariffs paid, including, but not limited to, United States Customs and Border Protection filings, invoices to retailers and other direct customers, tariff schedules, and import duty records. The wholesale trade firm shall provide a retail establishment with any information concerning tariffs that is necessary for the retail establishment to comply with this Act.

Section 20. Audit requirements.

(a) All retail establishments subject to this Act shall be subject to periodic audits. All audit compliance requirements shall be determined by the Attorney General by rule.

(b) An audit related to tariff pricing disclosure as required under subsection (a) shall be limited to compliance with this Act and shall not be used to provide the sole evidence of violations of any other law.

Section 25. Enforcement by Attorney General. A violation of any of the provisions of this Act is an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. All remedies, penalties, and authority granted to the Attorney General by that Act shall be available to him or her for the enforcement of this Act.

Section 30. Exemptions. This Act does not apply to:

(1) retail establishments generating less than $500,000 in annual revenue; and

(2) retail products on which the tariff-related price impact is less than 2% of the final retail price.

Section 35. Rulemaking. The Attorney General shall adopt rules to provide for the manner in which the tariff portion of a retail price shall be calculated and displayed and to establish and modify a list of retail products and retail establishments exempt from the requirements of this Act. The Attorney General shall not exempt retail products or retail establishments from the requirements of this Act except where compliance would be impractical, unreasonably burdensome, or unnecessary for adequate protection of consumers.

Section 40. Public notice. The Attorney General shall maintain and make available to the public a list of specific retail products and specific retail establishments exempt from the requirements of this Act and a list of all classes of retail products and all classes of retail establishments required to be in compliance with this Act.

Section 45. Compliance schedule.

(a) During the first 6-month period immediately following the effective date of this Act, compliance with this Act shall be voluntary.

(b) During the second 6-month period immediately following the effective date of this Act, retail establishments that have $5,000,000 or more in annual sales and are not otherwise exempt from this Act shall comply with this Act.

(c) One year after the effective date of this Act, all retail establishments that are not otherwise exempt from this Act shall comply with this Act.

Section 90. The Consumer Fraud and Deceptive Business Practices Act is amended by adding Section 2MMMM as follows:

(815 ILCS 505/2MMMM new)

Sec. 2MMMM. Violations of the Tariff Transparency Act. A person who violates the Tariff Transparency Act commits an unlawful practice within the meaning of this Act.

Section 99. Effective date. This Act takes effect 90 days after becoming law.