Illinois General Assembly - Bill Status for HB3886

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 the rate of tax on certain items of tangible personal property purchased from a certified small business is 5.25% (instead of 6.25%). Provides that the rate of tax on certain items of tangible personal property purchased by a small business that participates in a small business incentive program established by the Department of Revenue is 5.25% (instead of 6.25%). Provides that the Department of Revenue shall certify those small businesses and shall establish the small business incentive program. Provides that businesses that participate in the small business incentive program shall be charged a fee of $250 per year. Effective January 1, 2013.

Actions

Date	Chamber	Action
11/21/2011	House	Filed with the Clerk by Rep. La Shawn K. Ford
11/21/2011	House	First Reading
11/21/2011	House	Referred to Rules Committee
1/8/2013	House	Session Sine Die

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