IL HB4705

Allows municipalities to impose a tax on ticket and license resale facilitators at a rate up to $0.05 per dollar of selling price, in one cent increments.

Tax applies only to resales of amusement tickets or licenses after the original sale; excludes original sales by amusement owners/operators and resales between registered ticket brokers.

Department of Revenue administers and collects the tax, with 1.5% of collected revenue transferred to the Tax Compliance and Administration Fund and remaining revenue distributed monthly to municipalities.

Creates the Municipal Ticket and License Reselling Tax Fund as a state trust fund to hold collected taxes and fund refunds to taxpayers.

Municipalities must file ordinances imposing or modifying the tax with the Department of Revenue by April 1st (effective July 1st) or October 1st (effective January 1st) for enforcement to begin.