Bill Title: Amends the Use Tax Act, the Service Use Tax Act, and the Service Occupation Tax Act to update a cross reference. Makes changes concerning incentives for mid-range ethanol blends, gasohol, and majority blended ethanol fuel. Makes changes concerning an exemption for materials, parts, equipment, components, and furnishings incorporated into or upon an aircraft. Provides that the exemption for farm machinery and equipment also includes certain electrical power generation equipment. Makes changes concerning aviation fuel. Provides that amounts paid as taxes under those Acts shall be deemed assessed upon the date of receipt of payment. Amends the Hotel Operators' Occupation Tax Act. Provides that the tax shall not apply to gross rental receipts received from an entity that is organized and operated exclusively by an organization chartered by the United States Congress for the purpose of providing disaster relief. Amends the New Markets Development Program Act. Increases the annual cap on investments, and extends the sunset of the Act. Amends the Illinois Municipal Code. Makes changes concerning municipal tax review of public utilities. Amends the River Edge Redevelopment Zone Act. Provides that the Department of Commerce and Economic Opportunity may certify 2 additional pilot River Edge Redevelopment Zones in the City of Joliet and the City of Kankakee. Amends the Historic Preservation Tax Credit Act. Extends the sunset of the Act and provides for the authorization of additional credits. Amends the Parking Excise Tax Act. Makes changes concerning booking intermediaries. Amends the Illinois Income Tax Act. Makes changes concerning withholding for investment partnerships. Makes changes to the definition of "investment partnership". Creates a credit for individuals who serve as volunteer emergency workers. Makes changes concerning distributions to retired partners or shareholders under a retirement or disability plan. Amends the Cigarette Tax Act. Makes changes concerning the distribution of moneys collected pursuant to (i) the Cigarette Tax Act, (ii) the Cigarette Use Tax Act, and (iii) the tax imposed on little cigars under the Tobacco Products Tax Act of 1995. Amends the Illinois Municipal Code. Makes changes concerning the Non-Home Rule Municipal Use Tax Act and the Non-Home Rule Municipal Service Occupation Tax Act. Effective immediately.
Spectrum: Partisan Bill (Democrat 10-0)
Status: (Passed) 2023-06-07 - Public Act . . . . . . . . . 103-0009
[SB1963 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Chaptered | 2023-06-07 | HTML/Text | Link | View |
| Enrolled | 2023-05-25 | HTML/Text | Link | View |
| Engrossed | 2023-03-29 | HTML/Text | Link | View |
| Introduced | 2023-02-09 | HTML/Text | Link | View |
Amendments
Supplemental Documents
| Title | Description | Date | Format | Source | View |
|---|
| No supplemental documents for Illinois SB1963 currently on file. |
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