INC TX-ROTA-BUSINESS ASSET House SponsorsRep. Gary Hannig 1/9/2007HouseSession Sine Die 35 ILCS 5/902from Ch. 120, par. 9-90235 ILCS 120/5jfrom Ch. 120, par. 444j Amends the Illinois Income Tax Act and the Retailers' Occupation Tax Act. Requires the purchaser or transferee of certain business assets to file a notice of the sale or transfer of those assets with the Department of Revenue within 10 business days (now, 10 days) of the sale or transfer and authorizes the purchaser or transferee to notify the Department of the sale or transfer of those assets at least 10 business days (now, 10 days) before the intended sale or transfer. Requires that any order issued by the Department to withhold from the purchase price shall be issued within 10 business days (now, 10 days) after the Department receives the notice. Requires the Department to provide written notice of the actual amount of taxes, penalties, and interest due and whether additional amounts may become due within 60 business days (now, 60 days) after the issuance of the initial order. Makes corresponding changes. Effective immediately. 2/22/2005HouseFiled with the Clerk by Rep. Gary Hannig 2/22/2005HouseFirst Reading 2/22/2005HouseReferred to Rules Committee 2/23/2005HouseAssigned to Revenue Committee 3/10/2005HouseRecommends Be Adopted Sub-committee/ Revenue Committee; 003-000-000 3/10/2005HouseRemains in Revenue Committee 3/10/2005HouseDo Pass / Short Debate Revenue Committee; 012-000-000 3/10/2005HousePlaced on Calendar 2nd Reading - Short Debate 4/8/2005HouseSecond Reading - Short Debate 4/8/2005HouseHeld on Calendar Order of Second Reading - Short Debate 4/15/2005HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007HouseSession Sine Die