HB 2518

Abstract

Amends the Department of Revenue Law of the Civil Administrative Code of Illinois. Provides that the Department may adopt rules and regulations for payment by credit card of any amount due under any Act administered by the Department only when the Department is not required to pay a discount fee charged by the credit card issuer. Provides that the balance of moneys on deposit in any commercial checking account established by the Department of Revenue shall not exceed $25,000 (instead of $5,000) at any one time, nor shall any one check written on or single withdrawal made from any of those accounts exceed $25,000 (instead of $5,000). Amends the Property Tax Code. Provides that the Department shall certify the record of its proceedings if the taxpayer pays to it the sum of 75¢ per page of testimony taken before the Department and 25¢ per page of all other matters contained in the record. Amends the Uniform Penalty and Interest Act. Provides that, after December 31, 2013, interest paid by the Department and interest charged to taxpayers by the Department shall be at the underpayment rate established under Section 6621 of the Internal Revenue Code. Provides that a penalty of $100 shall be imposed for failure to file a transaction reporting return required by the Retailers' Occupation Tax Act or the Use Tax Act. Effective immediately.