[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
| [ Introduced ] | [ Engrossed ] | [ Enrolled ] |
| [ House Amendment 002 ] |
91_SB0946ham001
LRB9106128PTpkam01
1 AMENDMENT TO SENATE BILL 946
2 AMENDMENT NO. . Amend Senate Bill 946 by replacing
3 everything after the enacting clause with the following:
4 "Section 5. The Gas Revenue Tax Act is amended by
5 changing Section 2a.1 as follows:
6 (35 ILCS 615/2a.1) (from Ch. 120, par. 467.17a.1)
7 Sec. 2a.1. Imposition of tax on invested capital. In
8 addition to the taxes imposed by the Illinois Income Tax Act
9 and Section 2 of this Act, there is hereby imposed upon
10 persons engaged in the business of distributing, supplying,
11 furnishing or selling gas and subject to the tax imposed by
12 this Act (other than a school district or unit of local
13 government as defined in Section 1 of Article VII of the
14 Illinois Constitution of 1970), an additional tax in an
15 amount equal to 0.8% .8% of such persons' invested capital
16 for the taxable period. If such persons are not liable for
17 such additional tax for the entire taxable period, such
18 additional tax shall be computed on the portion of the
19 taxable period during which such persons were liable for such
20 additional tax. The invested capital tax imposed by this
21 Section shall not be imposed upon persons who are not
22 regulated by the Illinois Commerce Commission. Provided, in
-2- LRB9106128PTpkam01
1 the case of any person which is subject to the invested
2 capital tax imposed by this Section and which is also subject
3 to the tax on the distribution of electricity imposed by
4 Section 2a.1 of the Public Utilities Revenue Act, the
5 invested capital tax imposed by this Section shall be an
6 amount equal to 0.8% of such person's invested capital for
7 the taxable period multiplied by a fraction the numerator of
8 which is the average of the beginning and ending balances of
9 such person's gross gas utility plant in service and the
10 denominator of which is the average of the beginning and
11 ending balances of such person's gross electric and gas
12 utility plant in service, as set forth in such person's
13 annual report to the Illinois Commerce Commission for the
14 taxable period.
15 (Source: P.A. 90-561, eff. 1-1-98.)".