House Sponsors: MCKEON. Short description: USE & OCC TAX-LIMIT DISCOUNT Synopsis of Bill 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 on January 1, 2003, a retailer or serviceman is allowed to take the 1.75% or $5 discount, as appropriate, for the first $1,000,000 in taxes collected in the aggregate in a calendar year under each of the 4 Acts to reimburse himself or herself for expenses incurred in collecting the tax, keeping records, preparing and filing returns, remitting the tax, and supplying data to the Department of Revenue on request. No discount may be taken for taxes collected above $1,000,000 in the aggregate in a calendar year under the 4 Acts (now, 1.75% discount allowed for all taxes collected). Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status