Bill Sponsors: IL SB3282 | 2023-2024 | 103rd General Assembly
Bill Title: Amends the Retailers' Occupation Tax Act. Provides that, by March 31 of each year, each holder of a Direct Pay Permit shall review its purchase activity for the 12-month period ending on December 31 of the immediately preceding calendar year to verify that the purchases made in that 12-month period were sourced correctly and the correct tax rate was applied. Provides that the Direct Pay Permit holder is subject to a $6,000 penalty for failure to properly verify purchase activity and correct sourcing and tax rate errors. Provides that the penalty does not apply if at least 95% of the Direct Pay Permit holder's transactions for the applicable 12-month review period are correctly sourced and the correct taxes have been remitted or the permit holder acted with ordinary business care and prudence. Effective immediately.
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Passed) 2024-08-09 - Public Act . . . . . . . . . 103-0966 [SB3282 Detail]
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: (Passed) 2024-08-09 - Public Act . . . . . . . . . 103-0966 [SB3282 Detail]
Text: Latest bill text (Chaptered) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Senator Sara Feigenholtz [D] | Primary | Sponsored Bills | SD-006 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Joe Sosnowski [R] | Primary | Sponsored Bills | HD-069 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Martin McLaughlin [R] | Cosponsor | Sponsored Bills | HD-052 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Paul Jacobs [R] | Cosponsor | Sponsored Bills | HD-118 | FollowTheMoney | Ballotpedia | VoteSmart |
Representative Brandun Schweizer [R] | Cosponsor | Sponsored Bills | HD-104 | FollowTheMoney | Ballotpedia | VoteSmart |