Illinois General Assembly - Bill Status for HB4296
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 Bill Status of HB4296  93rd General Assembly


Short Description:  CIGARETTES & TOBACCO-BAD DEBTS

House Sponsors
Rep. William B. Black

Last Action
DateChamber Action
  1/11/2005HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 130/3-2 new
35 ILCS 135/3-2 new
35 ILCS 143/10-32 new


Synopsis As Introduced
Amends the Cigarette Tax Act, the Cigarette Use Tax Act, and the Tobacco Products Tax Act of 1995. Provides that, beginning on January 1, 2005, a distributor may deduct the amount of bad debts from the tax imposed under these Acts. Provides that "bad debt" means the taxes attributable to any portion of a debt owed to the distributor that is related to a sale of cigarettes or tobacco products subject to tax under these Acts, that is not otherwise deductible or excludable, that has become worthless or uncollectible, and that meets other criteria. Effective immediately.

Actions 
DateChamber Action
  1/30/2004HouseFiled with the Clerk by Rep. William B. Black
  2/2/2004HouseFirst Reading
  2/2/2004HouseReferred to Rules Committee
  1/11/2005HouseSession Sine Die

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