UTIL TXES-ELEC FUNDS TRANSFER
Synopsis of Bill as introduced:
Amends the Gas Revenue Tax Act, the Public Utilities Revenue Act,
the Water Company Invested Capital Tax Act, and the Telecommunications
Excise Tax Act. Provides that a taxpayer may make the payments
required under those Acts by electronic funds transfer. Provides that
the Department of Revenue shall adopt rules necessary to effectuate a
program of electronic funds transfer. Effective immediately.
FISCAL NOTE (Dpt. of Revenue)
HB709 may have a minimal positive fiscal impact due to effici-
ency and timeliness of electronic funds transfer payments, as
well as additional interest earned on State tax collections
collected without mail delay.
SENATE AMENDMENT NO. 1.
Adds reference to:
65 ILCS 5/8-11-2 from Ch. 24, par. 8-11-2
220 ILCS 5/9-222.1 from Ch. 111 2/3, par. 9-222.1
Amends the Illinois Municipal Code and the Public Utilities Act
to provide that the provisions granting enterprise zones or Foreign
Trade Zones or Sub-Zones exemptions from utility taxes in certain
cases shall apply to business enterprises that make an investment of
at least $200,000,000 that causes the creation of a minimum of 150 new
jobs in Illinois. Effective immediately.
SENATE AMENDMENT NO. 2.
Reduces the amount of the required investment by businesses in
order to qualify for the exemptions to at least $175,000,000.
SENATE AMENDMENT NO. 3.
Adds reference to:
35 ILCS 615/1 from Ch. 120, par. 467.16
Further amends the Gas Revenue Tax Act. Provides that the
exemption from "gross receipts" for any charge for gas or gas services
to a customer who acquired contractual rights for the direct purchase
of gas or gas services originating from an out-of-State supplier or
source includes any charge for gas or gas service, except for those
charges solely related to the local distribution of gas by a public
utility, to a customer who maintained an account with a public utility
for the transportation of customer-owned gas on or before March 1,
1995. Provides that these amendatory provisions are declarative of
Last action on Bill: PUBLIC ACT.............................. 90-0016
Last action date: 97-06-16
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 3
END OF INQUIRY
Full Text Bill Status