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92_SB1760enr
SB1760 Enrolled LRB9215394SMdv
1 AN ACT concerning taxes.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Retailers' Occupation Tax Act is amended
5 by changing Section 5k as follows:
6 (35 ILCS 120/5k) (from Ch. 120, par. 444k)
7 Sec. 5k. Building materials exemption. Each retailer who
8 makes a qualified sale of building materials to be
9 incorporated into real estate in an enterprise zone
10 established by a county or municipality under the Illinois
11 Enterprise Zone Act by remodeling, rehabilitation or new
12 construction, may deduct receipts from such sales when
13 calculating the tax imposed by this Act. For purposes of this
14 Section, "qualified sale" means a sale of building materials
15 that will be incorporated into real estate as part of a
16 building project for which a Certificate of Eligibility for
17 Sales Tax Exemption has been issued by the administrator of
18 the enterprise zone in which the building project is located.
19 To document the exemption allowed under this Section, the
20 retailer must obtain from the purchaser a copy of the
21 Certificate of Eligibility for Sales Tax Exemption issued by
22 the administrator of the enterprise zone into which the
23 building materials will be incorporated. The Certificate of
24 Eligibility for Sales Tax Exemption must contain:
25 (1) a statement that the building project
26 identified in the Certificate meets all the requirements
27 for the building material exemption contained in the
28 enterprise zone ordinance of the jurisdiction in which
29 the building project is located;
30 (2) the location or address of the building
31 project; and
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1 (3) the signature of the administrator of the
2 enterprise zone in which the building project is located.
3 In addition, the retailer must obtain certification from the
4 purchaser that contains:
5 (1) a statement that the building materials are
6 being purchased for incorporation into real estate
7 located in an Illinois enterprise zone;
8 (2) the location or address of the real estate into
9 which the building materials will be incorporated;
10 (3) the name of the enterprise zone in which that
11 real estate is located;
12 (4) a description of the building materials being
13 purchased; and
14 (5) the purchaser's signature and date of purchase.
15 The deduction allowed by this Section for the sale of
16 building materials may be limited, to the extent authorized
17 by ordinance, adopted after the effective date of this
18 amendatory Act of 1992, by the municipality or county that
19 created the enterprise zone into in which the building
20 materials will be incorporated retailer's place of business
21 is located. The ordinance, however, may neither require nor
22 prohibit the purchase of building materials from any retailer
23 or class of retailers in order to qualify for the exemption
24 allowed under this Section. The corporate authorities of any
25 municipality or county that adopts an ordinance or resolution
26 imposing or changing any limitation on the enterprise zone
27 exemption for building materials shall transmit to the
28 Department of Revenue on or not later than 5 days after
29 publication, as provided by law, a certified copy of the
30 ordinance or resolution imposing or changing those
31 limitations, whereupon the Department of Revenue shall
32 proceed to administer and enforce those limitations effective
33 the first day of the second calendar month next following
34 date of receipt by the Department of the certified ordinance
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1 or resolution. The provisions of this Section are exempt
2 from Section 2-70.
3 (Source: P.A. 91-51, eff. 6-30-99; 91-954, eff. 1-1-02;
4 92-484, eff. 8-23-01.)
5 Section 90. The State Mandates Act is amended by adding
6 Section 8.26 as follows:
7 (30 ILCS 805/8.26 new)
8 Sec. 8.26. Exempt mandate. Notwithstanding Sections 6
9 and 8 of this Act, no reimbursement by the State is required
10 for the implementation of any mandate created by this
11 amendatory Act of the 92nd General Assembly.
12 (Source: P.A. 91-51, eff. 6-30-99; 91-954, eff. 1-1-02;
13 92-484, eff. 8-23-01.)
14 Section 99. Effective date. This Act takes effect upon
15 becoming law.
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