Bill Text: IL SB0119 | 2019-2020 | 101st General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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101ST GENERAL ASSEMBLY State of Illinois 2019 and 2020 SB0119 Introduced 1/29/2019, by Sen. Cristina Castro SYNOPSIS AS INTRODUCED:
35 ILCS 5/502.2 new
Amends the Illinois Income Tax Act. Provides that any person required to file a federal Form 1099-K with respect to a nonresident who performed services within the State during the taxable year shall file a copy of that form with the Department of Revenue. Provides that a third-party settlement organization that is required to file an information return under certain provisions of the Internal Revenue Code shall, within 30 days of the date the filing is due to the Internal Revenue Service, file a duplicate return with the Department of Revenue. Provides that third-party network transactions are subject to the $600 de minimis reporting requirements set forth in the Internal Revenue Code, rather than the de minimis reporting requirements otherwise applicable to third-party settlement organizations under the Internal Revenue Code.
LRB101 06854 HLH 51885 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
SB0119 LRB101 06854 HLH 51885 b
AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Income Tax Act is amended by adding
Section 502.2 as follows:
(35 ILCS 5/502.2 new)
Sec. 502.2. Third-party settlement organizations;
reporting.
(a) As used in this Section:
"Third-party network transaction" means any transaction
that is settled by a third-party settlement organization.
"Third-party settlement organization" means a central
organization that has the contractual obligation to make
payments to participating payees of third-party network
transactions.
(b) Any person required to file a federal Form 1099-K with
respect to a nonresident who performed services within the
State during the taxable year shall file a copy of that form
with the Department. The Department may authorize electronic
filing of the Form. The Department shall adopt rules setting
forth any documentation that must be submitted with the form.
(c) Any person required to file an information return
pursuant to Section 6050W of the Internal Revenue Code shall,

SB0119 - 2 - LRB101 06854 HLH 51885 b
within 30 days of the date the filing is due to the Internal
Revenue Service, file with the Department a duplicate of each
such information return on which the recipient has an Illinois
address. In addition, at the same time the information in this
subsection is required, third-party settlement organizations
shall report to the Department and to any participating payee
with a Illinois address any information required by Section
6050W of the Internal Revenue Code with respect to third-party
network transactions related to that participating payee;
those reports shall be made as if the de minimis limitations of
subsection (e) of Section 6050W of the Internal Revenue Code
did not apply, but the de minimis limitations of subsection (a)
of Section 6041 of the Internal Revenue Code did apply. The
Department may adopt rules and authorize electronic filing of
the information required by this subsection.
(d) A failure to provide the information required by this
Section shall be considered a failure to provide a return or
return information and shall incur liability for any attendant
penalties.