Sec. 5-30. Calculation of rates for certain municipalities.
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/il/chapter-35/act-636/5-30A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 5-30. Calculation of rates for certain municipalities. The rate of the Simplified Municipal Telecommunications Tax for municipalities on the list described in Section 5-25 of this Act shall be measured by the sum of the following rates set forth in ordinances enacted by the municipalities at the rates in effect on the effective date of this Act:
(1)The rate equal to 70% of the rate set forth in such ordinance pursuant to
subparagraph 1 of Section 8-11-2 of the Illinois Municipal Code, rounded to the nearest even 0.25% increment; plus
(2)The rate set forth in such ordinance pursuant to Section 8-11-17 of the Illinois
Municipal Code, rounded to the nearest even 0.25% increment; plus
(3)The rate set forth in such ordinance pursuant to Section 20 of the
Telecommunications Infrastructure Maintenance Fee Act.