SB 119

Abstract

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. Senate Committee Amendment No. 1 Deletes reference to: 35 ILCS 5/502.2 new Adds reference to: 35 ILCS 5/703A Replaces everything after the enacting clause. Amends the Illinois Income Tax Act. Provides that a person required to file a federal Form 1099-K identifying a reportable payment transaction to a payee with an Illinois address shall also report to the Department of Revenue and to any payee with an Illinois address any information required by Section 6050W of the Internal Revenue Code with respect to third-party network transactions. 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. Provides that failure to provide that information shall result in a penalty for failure to file a tax return. Senate Floor Amendment No. 3 Replaces everything after the enacting clause. Reinserts the provisions of the bill as amended by Senate Amendment No. 1. Provides that the de minimis requirement for third-party network transactions shall be $1,000 and more than 3 transactions per reporting period. Provides that the Department of Revenue shall not share information gathered from Third Party Settlement Organizations with other federal, State, or local government entities. Provides that the amendatory Act applies for reporting periods beginning on or after January 1, 2020. Provides that failure to provide information shall result in a penalty under the Uniform Penalty and Interest Act. Effective immediately. House Floor Amendment No. 1 Deletes reference to: 35 ILCS 5/703A Adds reference to: 20 ILCS 605/605-1030 20 ILCS 3105/20 30 ILCS 105/6z-78 30 ILCS 330/7.6 30 ILCS 769/25-7 35 ILCS 505/8b 20 ILCS 663/25 20 ILCS 605/605-1025 30 ILCS 105/8.53 new 35 ILCS 5/229 35 ILCS 105/3-50 from Ch. 120, par. 439.3-50 35 ILCS 105/9 from Ch. 120, par. 439.9 35 ILCS 110/2 from Ch. 120, par. 439.32 35 ILCS 110/9 from Ch. 120, par. 439.39 35 ILCS 115/2 from Ch. 120, par. 439.102 35 ILCS 115/9 from Ch. 120, par. 439.109 35 ILCS 120/2-22 new 35 ILCS 120/2-45 from Ch. 120, par. 441-45 35 ILCS 120/3 from Ch. 120, par. 442 35 ILCS 130/2 from Ch. 120, par. 453.2 35 ILCS 505/2 from Ch. 120, par. 418 35 ILCS 505/2a from Ch. 120, par. 418a 35 ILCS 505/2b from Ch. 120, par. 418b 35 ILCS 505/8a from Ch. 120, par. 424a 50 ILCS 470/10 50 ILCS 470/31 55 ILCS 5/5-1006 from Ch. 34, par. 5-1006 55 ILCS 5/5-1006.5 55 ILCS 5/5-1006.7 55 ILCS 5/5-1007 from Ch. 34, par. 5-1007 55 ILCS 5/5-1008.5 55 ILCS 5/5-1035.1 from Ch. 34, par. 5-1035.1 55 ILCS 5/5-1184 rep. 65 ILCS 5/8-11-1 from Ch. 24, par. 8-11-1 65 ILCS 5/8-11-1.3 from Ch. 24, par. 8-11-1.3 65 ILCS 5/8-11-1.4 from Ch. 24, par. 8-11-1.4 65 ILCS 5/8-11-1.6 65 ILCS 5/8-11-1.7 65 ILCS 5/8-11-2.3 65 ILCS 5/8-11-5 from Ch. 24, par. 8-11-5 65 ILCS 5/11-74.3-6 65 ILCS 5/11-101-3 65 ILCS 5/8-11-22 rep. 70 ILCS 200/245-12 70 ILCS 750/25 70 ILCS 1605/30 70 ILCS 3610/5.01 from Ch. 111 2/3, par. 355.01 70 ILCS 3615/4.03 from Ch. 111 2/3, par. 704.03 70 ILCS 3615/4.03.3 70 ILCS 3720/4 from Ch. 111 2/3, par. 254 415 ILCS 125/310 415 ILCS 125/315 415 ILCS 125/320 805 ILCS 8/5-10 15 ILCS 405/16 from Ch. 15, par. 216 35 ILCS 105/2 from Ch. 120, par. 439.2 35 ILCS 105/2d 35 ILCS 120/1 from Ch. 120, par. 440 35 ILCS 120/2 from Ch. 120, par. 441 35 ILCS 120/2-12 35 ILCS 185/5-5 35 ILCS 185/5-15 35 ILCS 185/5-20 35 ILCS 185/5-25 35 ILCS 185/5-27 new 35 ILCS 185/5-30 625 ILCS 5/3-821 from Ch. 95 1/2, par. 3-821 Replaces everything after the enacting clause. 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.