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90_SB0576
30 ILCS 105/5.449 new
30 ILCS 105/6z-42 new
30 ILCS 115/12 from Ch. 85, par. 616
30 ILCS 330/2 from Ch. 127, par. 652
30 ILCS 330/5a new
30 ILCS 330/12 from Ch. 127, par. 662
Amends the State Finance Act and the Telecommunications
Excise Tax Act. Provides that the Department of Revenue
shall transfer the first $3,000,000 realized each month, or
as much of that amount as possible if less than $3,000,000 is
realized, from the tax imposed by the Telecommunications
Excise Tax Act into the General Revenue Fund for payment of
principal, interest, and premiums, if any, on bonds issued to
finance improved telecommunications facilities in schools.
Amends the General Obligation Bond Act to increase
authorization of bonds by $450,000,000. Authorizes the
issuance of $450,000,000 for use in constructing and
improving school telecommunications facilities. Provides that
the proceeds from these bonds shall be deposited into the
School Technology Fund. Provides that the moneys in the
School Technology Fund shall, subject to appropriation, be
distributed as grants to school districts for the purchase of
computers, on-line computer services, or telecommunications
equipment.
LRB9002103KDksA
LRB9002103KDksA
1 AN ACT concerning taxes, amending named Acts.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The State Finance Act is amended by adding
5 Sections 5.449 and 6z-42 as follows:
6 (30 ILCS 105/5.449 new)
7 Sec. 5.449. The School Technology Fund.
8 (30 ILCS 105/6z-42 new)
9 Sec. 6z-42. The School Technology Fund. The School
10 Technology Fund is created as a special fund in the State
11 treasury. All moneys paid into the Fund from the proceeds of
12 the sale of bonds authorized by Section 5a of the General
13 Obligation Bond Act shall, subject to appropriation, be
14 distributed by the State Board of Education as grants to
15 school districts for the purchase of computers, on-line
16 computer services, or telecommunications equipment. The
17 State Board of Education shall promulgate rules for the
18 distribution of moneys in the Fund.
19 Section 10. The General Obligation Bond Act is amended by
20 changing Sections 2 and 12 and adding Section 5a as follows:
21 (30 ILCS 330/2) (from Ch. 127, par. 652)
22 Sec. 2. Authorization for Bonds. The State of Illinois
23 is authorized to issue, sell and provide for the retirement
24 of General Obligation Bonds of the State of Illinois in the
25 total amount of $8,596,008,392 $8,146,008,392 herein called
26 "Bonds".
27 Of the total amount of bonds authorized above, up to
28 $1,700,000,000 in aggregate original principal amount may be
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1 issued and sold in accordance with the Baccalaureate Savings
2 Act in the form of General Obligation College Savings Bonds.
3 Of the total amount of bonds authorized above, up to
4 $300,000,000 in aggregate original principal amount may be
5 issued and sold in accordance with the Retirement Savings Act
6 in the form of General Obligation Retirement Savings Bonds.
7 The issuance and sale of Bonds pursuant to the General
8 Obligation Bond Act is an economical and efficient method of
9 financing the capital needs of the State. This Act will
10 permit the issuance of a multi-purpose General Obligation
11 Bond with uniform terms and features. This will not only
12 lower the cost of registration but also reduce the overall
13 cost of issuing debt by improving the marketability of
14 Illinois General Obligation Bonds.
15 Bonds shall be issued for the categories and specific
16 purposes expressed in Sections 2 through 8 and Section 16 of
17 this Act.
18 (Source: P.A. 87-144; 87-173; 87-836; 87-873; 88-93; 88-472;
19 88-552, eff. 7-14-94; 88-670, eff. 12-2-94.)
20 (30 ILCS 330/5a new)
21 Sec. 5a. School technology grants. The amount of
22 $450,000,000 is authorized to make grants to local school
23 districts for the purposes provided in Section 6z-42 of the
24 State Finance Act.
25 (30 ILCS 330/12) (from Ch. 127, par. 662)
26 Sec. 12. Allocation of Proceeds from Sale of Bonds. (a)
27 Proceeds from the sale of Bonds, authorized by Section 3 of
28 this Act, shall be deposited in the separate fund known as
29 the Capital Development Fund.
30 (b) Proceeds from the sale of Bonds, authorized by
31 paragraph (a) of Section 4 of this Act, shall be deposited in
32 the separate fund known as the Transportation Bond, Series A
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1 Fund.
2 (c) Proceeds from the sale of Bonds, authorized by
3 paragraphs (b) and (c) of Section 4 of this Act, shall be
4 deposited in the separate fund known as the Transportation
5 Bond, Series B Fund.
6 (d) Proceeds from the sale of Bonds, authorized by
7 Section 5 of this Act, shall be deposited in the separate
8 fund known as the School Construction Fund.
9 (d-5) Proceeds from the sale of Bonds, authorized by
10 Section 5a of this Act, shall be deposited in the separate
11 fund known as the School Technology Fund.
12 (e) Proceeds from the sale of Bonds, authorized by
13 Section 6 of this Act, shall be deposited in the separate
14 fund known as the Anti-Pollution Fund.
15 (f) Proceeds from the sale of Bonds, authorized by
16 Section 7 of this Act, shall be deposited in the separate
17 fund known as the Coal Development Fund.
18 (g) Proceeds from the sale of Bonds, authorized by
19 Section 8 of this Act, shall be deposited in the Capital
20 Development Fund.
21 (h) Subsequent to the issuance of any Bonds for the
22 purposes described in Sections 2 through 8 of this Act, the
23 Governor and the Director of the Bureau of the Budget may
24 provide for the reallocation of unspent proceeds of such
25 Bonds to any other purposes authorized under said Sections of
26 this Act, subject to the limitations on aggregate principal
27 amounts contained therein. Upon any such reallocation, such
28 unspent proceeds shall be transferred to the appropriate
29 funds as determined by reference to paragraphs (a) through
30 (g) of this Section.
31 (Source: P.A. 86-453; 86-1017.)
32 Section 15. The Telecommunications Excise Tax Act is
33 amended by changing Section 6 as follows:
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1 (35 ILCS 630/6) (from Ch. 120, par. 2006)
2 Sec. 6. Except as provided hereinafter in this Section,
3 on or before the 15th day of each month each retailer
4 maintaining a place of business in this State shall make a
5 return to the Department for the preceding calendar month,
6 stating:
7 1. His name;
8 2. The address of his principal place of business, and
9 the address of the principal place of business (if that is a
10 different address) from which he engages in the business of
11 transmitting telecommunications;
12 3. Total amount of gross charges billed by him during
13 the preceding calendar month for providing telecommunications
14 during such calendar month;
15 4. Total amount received by him during the preceding
16 calendar month on credit extended;
17 5. Deductions allowed by law;
18 6. Gross charges which were billed by him during the
19 preceding calendar month and upon the basis of which the tax
20 is imposed;
21 7. Amount of tax (computed upon Item 6);
22 8. Such other reasonable information as the Department
23 may require.
24 If the retailer's average monthly tax billings due to the
25 Department do not exceed $100, the Department may authorize
26 his returns to be filed on a quarter annual basis, with the
27 return for January, February and March of a given year being
28 due by April 15 of such year; with the return for April, May
29 and June of a given year being due by July 15 of such year;
30 with the return for July, August and September of a given
31 year being due by October 15 of such year; and with the
32 return of October, November and December of a given year
33 being due by January 15 of the following year.
34 Notwithstanding any other provision of this Article
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1 containing the time within which a retailer may file his
2 return, in the case of any retailer who ceases to engage in a
3 kind of business which makes him responsible for filing
4 returns under this Article, such retailer shall file a final
5 return under this Article with the Department not more than
6 one month after discontinuing such business.
7 In making such return, the retailer shall determine the
8 value of any consideration other than money received by him
9 and he shall include such value in his return. Such
10 determination shall be subject to review and revision by the
11 Department in the manner hereinafter provided for the
12 correction of returns.
13 Each retailer whose average monthly liability to the
14 Department under this Article was $10,000 or more during the
15 preceding calendar year, excluding the month of highest
16 liability and the month of lowest liability in such calendar
17 year, and who is not operated by a unit of local government,
18 shall make estimated payments to the Department on or before
19 the 7th, 15th, 22nd and last day of the month during which
20 tax collection liability to the Department is incurred in an
21 amount not less than the lower of either 22.5% of the
22 retailer's actual tax collections for the month or 25% of the
23 retailer's actual tax collections for the same calendar month
24 of the preceding year. The amount of such quarter monthly
25 payments shall be credited against the final liability of the
26 retailer's return for that month. Any outstanding credit,
27 approved by the Department, arising from the retailer's
28 overpayment of its final liability for any month may be
29 applied to reduce the amount of any subsequent quarter
30 monthly payment or credited against the final liability of
31 the retailer's return for any subsequent month. If any
32 quarter monthly payment is not paid at the time or in the
33 amount required by this Section, the retailer shall be liable
34 for penalty and interest on the difference between the
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1 minimum amount due as a payment and the amount of such
2 payment actually and timely paid, except insofar as the
3 retailer has previously made payments for that month to the
4 Department in excess of the minimum payments previously due.
5 If the Director finds that the information required for
6 the making of an accurate return cannot reasonably be
7 compiled by a retailer within 15 days after the close of the
8 calendar month for which a return is to be made, he may grant
9 an extension of time for the filing of such return for a
10 period of not to exceed 31 calendar days. The granting of
11 such an extension may be conditioned upon the deposit by the
12 retailer with the Department of an amount of money not
13 exceeding the amount estimated by the Director to be due with
14 the return so extended. All such deposits, including any
15 heretofore made with the Department, shall be credited
16 against the retailer's liabilities under this Article. If
17 any such deposit exceeds the retailer's present and probable
18 future liabilities under this Article, the Department shall
19 issue to the retailer a credit memorandum, which may be
20 assigned by the retailer to a similar retailer under this
21 Article, in accordance with reasonable rules and regulations
22 to be prescribed by the Department.
23 The retailer making the return herein provided for shall,
24 at the time of making such return, pay to the Department the
25 amount of tax herein imposed. On and after the effective date
26 of this Article of 1985, $1,000,000 of the moneys received by
27 the Department of Revenue pursuant to this Article shall be
28 paid each month into the Common School Fund and the remainder
29 into the General Revenue Fund. Beginning January 1, 1998, the
30 Department shall transfer the first $3,000,000 realized each
31 month, or as much of that amount as possible if less than
32 $3,000,000 is realized, from the taxes imposed under this
33 Article into the General Revenue Fund for payment of
34 principal of, interest on, and premium, if any, on Bonds
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1 issued under Section 5a of the General Obligation Bond Act.
2 Allocations made under this paragraph shall continue only as
3 long as and to the extent that payments of principal,
4 interest, and premiums are required on Bonds issued under
5 Section 5a of the General Obligation Bond Act.
6 (Source: P.A. 84-126.)