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File #: 16-5739    Version: Name: COOK COUNTY TAXATION PREDICTABILTY AMENDMENT
Type: Ordinance Amendment Status: Approved
File created: 10/4/2016 In control: Finance Committee
On agenda: 10/5/2016 Final action: 11/10/2016
Title:
Sponsors: JOHN A. FRITCHEY, LARRY SUFFREDIN, TONI PRECKWINKLE (President), LUIS ARROYO JR, RICHARD R. BOYKIN, JERRY BUTLER, JOHN P. DALEY, BRIDGET GAINER, JESÚS G. GARCÍA, GREGG GOSLIN, EDWARD M. MOODY, STANLEY MOORE, SEAN M. MORRISON, TIMOTHY O. SCHNEIDER, PETER N. SILVESTRI, DEBORAH SIMS, ROBERT STEELE, JEFFREY R. TOBOLSKI

PROPOSED AMENDMENT 1 TO ITEM 16-5739 AS AMENDED
(Finance Public Hearing and Committee 11/10/16)
UPDATED TO INCLUDE ALL MEMBERS AS SPONSORS
Sponsored by: JOHN A. FRITCHEY, LARRY SUFFREDIN, TONI PRECKWINKLE, President, JOHN P. DALEY, STANLEY MOORE, LUIS ARROYO JR., RICHARD R. BOYKIN, JERRY BUTLER, BRIDGET GAINER, JES?S G. GARC?A, GREGG GOSLIN, EDWARD M. MOODY, SEAN M. MORRISON, TIMOTHY O. SCHNEIDER, PETER N. SILVESTRI, DEBORAH SIMS, ROBERT B. STEELE and JEFFREY R. TOBOLSKI, Cook County Board of Commissioners
COOK COUNTY TAXATION PREDICTABILITY AND LONG-TERM FISCAL FORECASTING AMENDMENT
NOW THEREFORE BE IT ORDAINED, by the Cook County Board of Commissioners that Chapter 74, TAXATION, Article IV. - RETAILERS' OCCUPATION TAX, Sections 74-150 through 74-151 74-154 be amended as follows:
ARTICLE IV. - RETAILERS' OCCUPATION TAX
Sec. 74-150. - Short title.
This article shall be known and may be cited as the Cook County Home Rule County Retail Occupation Tax Ordinance.
Sec. 74-151. - Imposed.
As authorized by 55 ILCS 5/5-1006 (home rule county retailers' occupation tax law), a tax is imposed Countywide upon all persons in the County engaged in the business of selling tangible personal property at retail, at the rate of one and one-quarter percent (1.25%) through December 31, 2011; one percent (1%) for the period of January 1, 2012 through December 31, 2012; three-quarters percent (0.75%) through December 31, 2015; and one and three-quarters percent (1.75%) thereafter of the gross receipts from such sales made in the course of such business. The County Board may adopt an increase in the Retailers' Occupation Tax if approved by a two-thirds vote of the members of the County Board then holding office, provided that the County Board shall not increase the Retailers' Occupation Tax for 36 months following any previous increase of such tax or any increase of the Cook County Property Tax Levy. The tax shall be paid in the manner provided in such statute.
Sec. 74-152. - Notificati...

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