Bill Text: IL HB4082 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Retailers' Occupation Tax Act. Provides that a building materials exemption for River Edge Redevelopment Zones applies to all real estate (now, only industrial or commercial projects). Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB4082 Detail]

Download: Illinois-2011-HB4082-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB4082 Introduced , by Rep. Jehan A. Gordon SYNOPSIS AS INTRODUCED:
35 ILCS 120/2-54
Amends the Retailers' Occupation Tax Act. Provides that a building materials exemption for River Edge Redevelopment Zones applies to all real estate (now, only industrial or commercial projects). Effective immediately.
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FISCAL NOTE ACT MAY APPLY
A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Retailers' Occupation Tax Act is amended by
changing Section 2-54 as follows:
(35 ILCS 120/2-54)
Sec. 2-54. Building materials exemption; River Edge
Redevelopment Zones. Each retailer that makes a qualified sale
of building materials to be incorporated into real estate
within a River Edge Redevelopment Zone in accordance with the
River Edge Redevelopment Zone Act by remodeling,
rehabilitating, or new construction may deduct receipts from
those sales when calculating the tax imposed by this Act. For
purposes of this Section, "qualified sale" means a sale of
building materials that will be incorporated into real estate
as part of an industrial or commercial project for which a
Certificate of Eligibility for Sales Tax Exemption has been
issued by the corporate authorities of the municipality in
which the building project is located. To document the
exemption allowed under this Section, the retailer must obtain
from the purchaser a copy of the Certificate of Eligibility for
Sales Tax Exemption issued by the corporate authorities of the
municipality in which the real estate into which the building

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materials will be incorporated is located. The Certificate of
Eligibility for Sales Tax Exemption must contain all of the
following:
(1) A statement that the commercial or industrial
project identified in the Certificate meets all the
requirements of the jurisdiction in which the project is
located.
(2) The location or address of the building project.
(3) The signature of the chief executive officer of the
municipality in which the building project is located, or
the chief executive officer's delegate.
In addition, the retailer must obtain a certificate from
the purchaser that contains all of the following:
(1) A statement that the building materials are being
purchased for incorporation into real estate located in a
River Edge Redevelopment Zone included in a redevelopment
project area in accordance with River Edge Redevelopment
Zone Act.
(2) The location or address of the real estate into
which the building materials will be incorporated.
(3) The name of the River Edge Redevelopment Zone in
which that real estate is located.
(4) A description of the building materials being
purchased.
(5) The purchaser's signature and date of purchase.
The provisions of this Section are exempt from Section

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2-70.
(Source: P.A. 94-1021, eff. 7-12-06.)
Section 99. Effective date. This Act takes effect upon
becoming law.