HB 4110

Abstract

Amends the State Finance Act and the Retailers' Occupation Tax Act. Provides that a municipality or a county may, by ordinance, elect to waive the receipt of any distribution from the Local Government Tax Fund of moneys paid into that Fund from the net revenues realized from the rate on the selling price of motor fuel that is sold within that municipality or unincorporated area of the county. Provides that if the municipality or county adopts such an ordinance, then the retailers' occupation tax is imposed on the sale of motor fuel at the rate of 5.25% (now, 6.25%) of the gross receipts of motor fuel made in the course of business in that municipality or county. Sets forth requirements for adopting such an ordinance. Makes corresponding changes. Effective immediately.