92nd General Assembly
Summary of SB0968
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Senate Sponsors:

Short description: 
UTILITY TAXES-25% GROWTH CAP                                               

Synopsis of Bill as introduced:
        Amends the Gas Revenue Tax Act, the Electricity Excise  Tax  Law,      
   the  Electricity Infrastructure Maintenance Fee Law, and the privilege      
   and occupation tax provision of the Illinois Municipal Code.  Provides      
   that beginning in  calendar  year  2001  and  in  each  calendar  year      
   thereafter  through  calendar year 2006, when the net revenue realized      
   in the calendar year from certain taxes and fees imposed  under  these      
   Acts  or under the authority of any home rule power equals 125% of the      
   net revenue realized from the tax or fee imposed in the prior calendar      
   year, no tax or fee shall  be  imposed  beginning  on  that  date  and      
   through  December 31 of that year.  Beginning on January 1 of the next      
   calendar year, the tax or fee is  again  imposed.   Amends  the  State      
   Mandates  Act  to  require implementation without reimbursement by the      
   State.  Pre-empts home rule powers.  Effective immediately.                 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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