ERWIN. New Act Creates the Firearm Tax Act. Imposes a tax on all persons engaged in the business of selling firearms. Establishes procedures for collection of the tax and how the tax is to be distributed. STATE DEBT IMPACT NOTE HB 419 would have no impact on State debt. FISCAL NOTE (Dpt. of Revenue) HB419 will generate approximately $5 million in tax revenues. However, the additional tax may cause people not to purchase firearms in Illinois, thus reducing potential additional tax revenues from increased tax rates. 97-01-30 H FIRST READING 97-01-30 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-06 H ASSIGNED TO COMMITTEE JUD-CRIMINAL 97-03-10 H STATE DEBT IMPACT NOTE FILED 97-03-10 H COMMITTEE JUD-CRIMINAL 97-03-18 H FISCAL NOTE FILED 97-03-18 H COMMITTEE HJUB 97-03-21 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL 99-01-12 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary