SB2921sam002 99TH GENERAL ASSEMBLY

Sen. Toi W. Hutchinson

Filed: 4/13/2016

09900SB2921sam002 LRB099 18716 HLH 47241 a

AMENDMENT TO SENATE BILL 2921

AMENDMENT NO. ______. Amend Senate Bill 2921, AS AMENDED, with reference to page and line numbers of Senate Amendment No. 1, by replacing everything from line 26 on page 10 through line 23 on page 11 with the following:

"liability resulting from the audit or investigation. The changes made by this amendatory Act of the 99th General Assembly do not apply for the purposes of determining the amount of penalty assessed under this subsection prior to the effective date of this amendatory Act of the 99th General Assembly. the entire amount due is paid not later than 30 days after the Department has provided the taxpayer with an amended return (following completion of an occupation, use, or excise tax audit) or a form for waiver of restrictions on assessment (following completion of an income tax audit); provided further that the reduction to 15% shall be rescinded if the taxpayer makes any claim for refund or credit of the tax, penalties, or interest determined to be due upon audit, except in the case of a claim filed pursuant to subsection (b) of Section 506 of the Illinois Income Tax Act or to claim a carryover of a loss or credit, the availability of which was not determined in the audit. For purposes of this paragraph (2), any overpayment reported on an original return that has been allowed as a refund or credit to the taxpayer shall be deemed to have not been paid on or before the due date for payment and any amount paid under protest pursuant to the provisions of the State Officers and Employees Money Disposition Act shall be deemed to have been paid after the Department has initiated an audit. and".