Bill Status of SB1224 99th General Assembly
Short Description: ROTA-BAD DEBT
Sen. Daniel Biss
| 1/10/2017||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Retailers' Occupation Tax Act. Provides that a retailer is relieved from liability for any tax that becomes due and payable if the tax is represented by amounts that are found to be worthless or uncollectible, have been charged off in accordance with generally accepted accounting principles, and will be claimed as a deduction pursuant to Section 166 of the Internal Revenue Code. Provides for a deduction if the retailer had previously paid such a tax. Contains provisions concerning the payment of taxes on purchases made through a private-label credit card. Effective immediately.
|Date||Chamber|| Action|| 2/11/2015||Senate||Filed with Secretary by Sen. Daniel Biss|| 2/11/2015||Senate||First Reading|| 2/11/2015||Senate||Referred to Assignments|| 2/25/2015||Senate||Assigned to Revenue|| 3/5/2015||Senate||To Subcommittee on Special Issues (RV)|| 3/26/2015||Senate||Postponed - Revenue Subcommittee on Special Issues|| 3/27/2015||Senate||Rule 2-10 Committee Deadline Established As April 24, 2015|| 4/24/2015||Senate||Rule 3-9(a) / Re-referred to Assignments|| 1/10/2017||Senate||Session Sine Die|