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.

Sponsorship: Moderate Partisan Bill (Republican 4-1)

Status: (Passed) 2024-08-09 - Public Act . . . . . . . . . 103-0966 [SB3282 Detail]

---

Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2024-08-09	HTML/Text	Link	View
Enrolled	2024-05-24	HTML/Text	Link	View
Engrossed	2024-04-12	HTML/Text	Link	View
Introduced	2024-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 002	2024-05-06	Proposed	HTML/Text	Link	View
House Amendment 001	2024-05-01	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3282 currently on file.