HB 4326

Abstract

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Beginning on January 1, 2007, exempts from the taxes imposed by these Acts tangible personal property purchased by a not-for-profit corporation organized under the General Not For Profit Corporation Act of 1986 for the purpose of ownership and operation of water supply facilities for drinking and general domestic use on a mutual or cooperative basis. Provides that the exemptions are not subject to the sunset provisions of the Acts. Effective immediately.