Synopsis As Introduced Creates the NCAA Receipts Tax Act and amends the State Finance Act. Imposes a tax on the NCAA at a rate of 10% of its Illinois gross receipts. Sets forth procedures and requirements for tax returns and the quarterly payments of estimated taxes. Sets forth the powers and duties of the Department of Revenue in administering and collecting the tax. Prohibits the NCAA from using the tax imposed under this Act as a basis for reducing the amount of payments for any reason to member-schools in Illinois. Requires the Department to deposit the tax proceeds into the Collegiate Athletic Revenue Fund, a special fund in the State treasury. Requires the Board of Higher Education to distribute the moneys in the Fund, subject to appropriation, to each State university pro rata based on the number of students enrolled in each university. Effective immediately.