HB2903: USE/OCC TX-COMMON SCHOOL
Legislative Summary
Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, of the remainder of the moneys received under the Acts after certain deposits have been made, 75% shall be deposited into the General Revenue Fund and 25% shall be deposited into the Common School Fund (currently, 75% shall be paid into the State Treasury and 25% shall be reserved in a special account and used only for the transfer to the Common School Fund as part of a specified monthly transfer). Effective immediately.
Demographic Impact
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