Bill Status of SB2018 96th General Assembly
Short Description: USE/OCC TAX-TEXTBOOKS-HIGHR ED
Sen. Tim Bivins - Kyle McCarter - Pamela J. Althoff, Christine Radogno, Kirk W. Dillard and Bill Brady
| 1/12/2011||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning July 1, 2009, the tax with respect to textbooks required for use at State universities and public community colleges or certain other institutions of higher learning is imposed under these Acts at the rate of 1.25% (eliminating the State's portion of the tax). Authorizes the Department of Revenue to adopt rules. Amends the State Finance Act to adjust the distribution with respect to this tax. Effective immediately.