SB 3001

Abstract

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning February 1, 2006 and through April 30, 2006, with respect to propane and home heating oil, the tax under the Acts is imposed at the rate of 1.25% (eliminating the State's portion of the tax). Amends the State Finance Act to make corresponding changes concerning the distribution of the tax. Amends the Gas Revenue Tax Act. Suspends the tax on sale for the use or consumption of gas by residential customers for the period beginning February 1, 2006 through April 30, 2006. Effective immediately.