IL SB2639

Reduces the percentage of flood prevention retailers' and service occupation tax proceeds deposited into the Tax Compliance and Administration Fund from 2% to 1%.

The reduced percentage applies to taxes collected from retailers and service providers within flood prevention district territories during the second preceding calendar month.

The 1% deposited into the Tax Compliance and Administration Fund is used by the Department of Revenue to administer and enforce flood prevention tax provisions on behalf of counties.

Effective July 1, 2014.