Amends the Illinois Income Tax Act. Makes a technical change in a Section concerning the short title.
Senate Amendment 1:
Replaces everything after the enacting clause. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that certain food, drugs, and medical appliances that were taxed at the rate of 1% shall be exempt from the taxes under those Acts. Provides that certain amounts shall be transferred from the General Revenue Fund to certain local tax funds. Effective immediately.