Bill Text: IL SB0119 | 2019-2020 | 101st General Assembly | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Creates the Second FY2020 Budget Implementation Act. Provides that the purpose of the Act is to make additional changes to State programs that are necessary to implement the enacted State budget for FY2020. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, the Retailers' Occupation Tax Act, the Motor Fuel Tax Law, the Innovation Development and Economy Act, the Counties Code, the Illinois Municipal Code, the Civic Center Code, the Flood Prevention District Act, the Regional Transportation Authority Act, the Water Commission Act of 1985, and the Environmental Impact Fee Law. In provisions concerning aviation fuel, makes changes concerning aviation fuel tax returns. Makes changes concerning the definition of aviation fuel. Makes technical corrections to consolidate provisions concerning certification of units of local government as having an airport-related purpose. Amends the Motor Fuel Tax Law to make a technical correction concerning the Transportation Renewal Fund. Amends the New Markets Development Program Act. In provisions concerning certification of qualified equity investments, modifies the schedule upon which allocation rounds enabled under the Act shall be applied. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois and the Illinois Income Tax Act. Makes changes concerning data centers. Amends the State Finance Act to direct certain fund transfers. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. With respect to the manufacturing and assembly exemption, removes a provision that a certificate of exemption is required for each exempt transaction. Amends the Cigarette Tax Act. Makes changes concerning the distribution of cigarette tax proceeds. Amends the Illinois Municipal Code. Provides that the municipal motor fuel tax shall be imposed as a retailers' occupation tax on the occupation of selling motor fuel. Contains administrative provisions for the collection of the municipal motor fuel tax. Amends the Franchise Tax and License Fee Amnesty Act of 2007. Provides that 2% of all money collected under the Act shall be deposited by the State Treasurer into the Business Services Special Operations Fund (rather than the Franchise Tax and License Fee Amnesty Administration Fund). Contains provisions concerning marketplace facilitators. Amends the Illinois Vehicle Code. Removes language creating a $10 fee for a Junking Certificate issued after July 1, 2019. Effective immediately, except that certain provisions take effect January 1, 2020.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2019-12-13 - Public Act . . . . . . . . . 101-0604 [SB0119 Detail]
Download: Illinois-2019-SB0119-Engrossed.html
Bill Title: Creates the Second FY2020 Budget Implementation Act. Provides that the purpose of the Act is to make additional changes to State programs that are necessary to implement the enacted State budget for FY2020. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, the Retailers' Occupation Tax Act, the Motor Fuel Tax Law, the Innovation Development and Economy Act, the Counties Code, the Illinois Municipal Code, the Civic Center Code, the Flood Prevention District Act, the Regional Transportation Authority Act, the Water Commission Act of 1985, and the Environmental Impact Fee Law. In provisions concerning aviation fuel, makes changes concerning aviation fuel tax returns. Makes changes concerning the definition of aviation fuel. Makes technical corrections to consolidate provisions concerning certification of units of local government as having an airport-related purpose. Amends the Motor Fuel Tax Law to make a technical correction concerning the Transportation Renewal Fund. Amends the New Markets Development Program Act. In provisions concerning certification of qualified equity investments, modifies the schedule upon which allocation rounds enabled under the Act shall be applied. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois and the Illinois Income Tax Act. Makes changes concerning data centers. Amends the State Finance Act to direct certain fund transfers. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. With respect to the manufacturing and assembly exemption, removes a provision that a certificate of exemption is required for each exempt transaction. Amends the Cigarette Tax Act. Makes changes concerning the distribution of cigarette tax proceeds. Amends the Illinois Municipal Code. Provides that the municipal motor fuel tax shall be imposed as a retailers' occupation tax on the occupation of selling motor fuel. Contains administrative provisions for the collection of the municipal motor fuel tax. Amends the Franchise Tax and License Fee Amnesty Act of 2007. Provides that 2% of all money collected under the Act shall be deposited by the State Treasurer into the Business Services Special Operations Fund (rather than the Franchise Tax and License Fee Amnesty Administration Fund). Contains provisions concerning marketplace facilitators. Amends the Illinois Vehicle Code. Removes language creating a $10 fee for a Junking Certificate issued after July 1, 2019. Effective immediately, except that certain provisions take effect January 1, 2020.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2019-12-13 - Public Act . . . . . . . . . 101-0604 [SB0119 Detail]
Download: Illinois-2019-SB0119-Engrossed.html
| |||||||
| |||||||
| |||||||
| 1 | AN ACT concerning revenue.
| ||||||
| 2 | Be it enacted by the People of the State of Illinois,
| ||||||
| 3 | represented in the General Assembly:
| ||||||
| 4 | Section 5. The Illinois Income Tax Act is amended by | ||||||
| 5 | changing Section 703A as follows:
| ||||||
| 6 | (35 ILCS 5/703A) | ||||||
| 7 | Sec. 703A. Information for reportable payment | ||||||
| 8 | transactions. Every person required under Section 6050W of the | ||||||
| 9 | Internal Revenue Code to file federal Form 1099-K, Third-Party | ||||||
| 10 | Payment Card and Third Party Network Transactions, identifying | ||||||
| 11 | a reportable payment transaction to a payee with an Illinois | ||||||
| 12 | address shall furnish a copy to the Department at such time and | ||||||
| 13 | in such manner as the Department may prescribe. In addition, | ||||||
| 14 | for reporting periods beginning on or after January 1, 2020, at | ||||||
| 15 | the same time and in the same manner as the foregoing | ||||||
| 16 | reportable payment transactions are required to be reported to | ||||||
| 17 | the Department, the person shall report to the Department and | ||||||
| 18 | to any payee with an Illinois address any information required | ||||||
| 19 | by Section 6050W of the Internal Revenue Code with respect to | ||||||
| 20 | third-party network transactions related to that payee, but | ||||||
| 21 | without regard to the de minimis limitations of subsection (e) | ||||||
| 22 | of Section 6050W of the Internal Revenue Code, if, in that | ||||||
| 23 | reporting period, the amount of those transactions exceeds | ||||||
| |||||||
| |||||||
| 1 | $1,000 and the aggregate number of those transactions exceeds | ||||||
| 2 | 3. Failure to provide any information required by this Section | ||||||
| 3 | shall incur a penalty for failure to file an information return | ||||||
| 4 | as provided in Section 3-4 of the Uniform Penalty and Interest | ||||||
| 5 | Act. The Department shall not share information gathered from | ||||||
| 6 | Third Party Settlement Organizations with other federal, | ||||||
| 7 | State, or local government entities.
| ||||||
| 8 | (Source: P.A. 100-1171, eff. 1-4-19.)
| ||||||
