summary
Introduced
02/05/2026
02/05/2026
In Committee
02/05/2026
02/05/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Creates the Community Revitalization Zone Act. Provides that a county or municipality may designate an area within its jurisdiction as a community redevelopment zone, subject to the certification of the Department of Commerce and Economic Opportunity. Sets forth the criteria for designation as a community redevelopment zone. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, with respect to tangible personal property that is purchased from a retailer located in a community revitalization zone, the taxes under those Acts are imposed at the rate of 3.25%. Effective immediately.
AI Summary
This bill establishes the Community Revitalization Zone Act, allowing counties or municipalities to designate specific areas as "community redevelopment zones" if they meet certain criteria, such as being contiguous, located within the jurisdiction, and having a median household income below $45,000. These zones can be certified by the Department of Commerce and Economic Opportunity for up to 10 years. Crucially, the bill amends several tax laws, including the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act, to impose a reduced tax rate of 3.25% on tangible personal property purchased from retailers located within these designated community revitalization zones, effective January 1, 2027.
Sponsors (1)
Last Action
Referred to Assignments (on 02/05/2026)
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