HB4624 Summary

• Amends the Home Rule County Retailers' Occupation Tax Law and Home Rule County Service Occupation Tax Law to cap the maximum tax rate at 0.75%, effective 30 calendar days after the act becomes law.

• Requires counties with tax rates exceeding 0.75% on the effective date to reduce their rates to 0.75% within 30 calendar days.

• Allows county boards to increase tax rates above 0.75% only after voter approval through a general election referendum.

• Designates these tax rate limitations as restrictions on home rule powers under the Illinois Constitution.