IL HB4089

Exempts business enterprises in Standard Industrial Classifications 10, 12-14, and 21-39 from the Gas Use Tax, with exemption applied to gas used by qualifying enterprises.

Excludes consideration received from the same qualifying Standard Industrial Classifications from "gross receipts" under the Gas Revenue Tax Act, reducing the tax base for gas distributors.

Exempts electricity used in manufacturing or assembling tangible personal property for wholesale or retail sale or lease from the Electricity Excise Tax imposed under Section 2-4.

Takes effect immediately upon becoming law.