KEITH STAATS
 
Executive Director
Tax Institute


(217) 522-5512 ext. 231
 
 
 


All Key Chamber Legislation
Upcoming Events

January 21 :  Save the date for an Illinois Income Tax Act webinar.  Additional details will be forthcoming .

January 28 :
The Illinois General Assembly returns to Springfield.
December 27, 2019
 
State and Local Tax  
This Week 

Illinois General Assembly

The House and Senate will return to Springfield for the beginning of the spring legislative session on January 28.

We are putting together the Tax Institute legislative initiatives for the spring 2020 legislative session.  Please contact me with suggestions for legislation. I am working on some new proposals for next year, along with reintroducing some proposals from 2019.  Here are proposals from last year, along with bill numbers that we plan to reintroduce:

Amend the Illinois Income Tax Act to create a small business asset purchase account (SB 1655 Weaver - HB 3062 Murphy)

Create a bonus investment credit for small businesses (HB 3571 Keith Wheeler - SB 1328 Holmes)
 
Modify the temporary storage exemption to provide that the exemption is not lost if otherwise eligible items are returned to Illinois only for storage, repair or refurbishment (HB 1480 McCombie - SB 1686 Tracy)
 
Reinstate and extend the sunset date of the expanded temporary storage exemption (HB 3572 Wheeler and SB 1676 Tracy)

Amend the Illinois False Claims Act to correct abuses allowed under current law (HB 2139 Keith Wheeler - SB 1714 Weaver)

Level the playing field for Illinois cigar retailers by capping the tax on cigars at $0.50/cigar - (Jonathan Carroll to sponsor the legislation in the House Senate Sponsor tbd)

Enhance the R&D credit by modifying the base period calculation (SB 1350 Weaver - Senator Barickman added as a co-sponsor)

Amend the Illinois Income Tax Act to extend the sunset date of the personal property tax replacement income tax investment credit (SB 1656 Weaver)

New legislation
No new legislation this week.

Property Tax Relief Task Force
The Task Force missed its preliminary report deadline.  The final report of the Task Force is due to be submitted to the Governor and the General Assembly on December 31.

The Assessments and Exemptions subcommittee continues to meet.  Last Friday, the subcommittee took testimony from the Superintendent of Shawnee School District 84 and a representative of Housing Action Illinois.

Rulemaking  
The December 27 edition of the Illinois Register did not contain any proposed or adopted rulemakings by the Illinois Department of Revenue or the Department of Commerce and Economic Opportunity.

Court cases
The circuit court of Sangamon County issued a ruling in Tax Analysts v. Illinois Department of Revenue.  The court ruled that the Illinois Department of Revenue audit manual is not exempt from disclosure under the Freedom of Information Act.  The Department made various arguments as to why the audit manual should not be released, but the court rejected the Department's arguments. The court ordered the Department to provide the audit manual to Tax Analysts within 30 calendar days.  

I suspect the decision will be appealed.  I will keep you posted as I receive more information.  

For those of you who are subscribers to Tax Notes Today, you can access a copy of the order issued by the court.  (It isn't posted on the Sangamon County Circuit Clerk's website.)

I've requested copies of the various documents filed by the parties from the Circuit Clerk and I should have copies to share in next week's newsletter.

Tribunal 
No new decisions were posted this week.  

None of the new cases filed with the Tribunal raise unique issues.  

Publications
The Illinois Department of Revenue has established a Resource Page for the Trade-In Credit Limit.  The resource page includes a link to frequently asked questions about the scope of the trade-in credit limitation as well as a link to the Department Informational bulletin on the trade-in credit limit.

The Illinois Department of Revenue has updated the Resource Page for Taxes on Cannabis Sales originally linked in last week's newsletter

The Illinois Department of Revenue issued an Informational Bulletin entitled Illinois Use Tax Requirements for Marketplace Facilitators and Marketplace Sellers

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