SB 2589

Abstract

Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that the gasohol incentive under the Acts applies through December 31, 2013 (instead of December 31, 2018). Provides that 1% of the proceeds of the tax collected on gasohol shall be deposited into the Transportation Reform Fund. Amends the Motor Fuel Tax Law. Provides that the tax under the Motor Fuel Tax Law shall be imposed at the rate of 9.5% of the average wholesale price of motor fuel. Requires the Department of Revenue to certify the average wholesale price of motor fuel on a quarterly basis. Makes changes concerning the distribution of the proceeds. Amends the State Finance Act to create several new funds. Amends the Illinois Vehicle Code. Increases certain registration and license fees. Contains provisions concerning distribution. Effective January 1, 2014.