HB2453 Summary

• Amends the Downstate Public Transportation Act to increase funding allocations to the Downstate Public Transportation Fund, raising the distribution from 2/32 to 3/32 of net sales tax revenue beginning July 1, 2005.

• Modifies tax collection procedures under the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act to have the Department of Revenue directly deposit designated tax fractions into the Downstate Public Transportation Fund beginning July 1, 2018, rather than transferring through the General Revenue Fund.

• Establishes new revenue distribution requirements effective July 1, 2018 ensuring that after payments to various dedicated funds (Build Illinois, McCormick Place, Tax Compliance, etc.), remaining moneys are deposited into the Downstate Public Transportation Fund as specified under the Downstate Public Transportation Act.

• Takes effect July 1, 2018.