IL SB2923

Exempts businesses in Standard Industrial Classifications 10, 12-14, 21-39 (mining, construction, manufacturing, transportation, utilities, wholesale trade) from the Gas Use Tax under the Gas Use Tax Law.

Excludes consideration received from those same Standard Industrial Classifications from the definition of "gross receipts" under the Gas Revenue Tax Act.

Exempts electricity used by purchasers in the manufacturing or assembling of tangible personal property for wholesale or retail sale or lease from the Electricity Excise Tax.

Takes effect immediately upon enactment.