HB2964 Summary

• Amends four Illinois tax acts (Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act) to redirect revenue from motor vehicle sales.

• Beginning July 1, 2019, deposits 80% of net revenue from the 6.25% general sales tax rate on motor vehicle sales into the Road Fund (after other required fund allocations).

• Motor vehicles are defined as vehicles requiring state registration per Section 1-146 of the Vehicle Code.

• Effective immediately upon becoming law.