SB2470 amends the Innovation Development and Economy Act to allow political subdivisions to establish STAR bond districts and impose taxes on.
SB2470 amends the Innovation Development and Economy Act to allow political subdivisions that are not home-rule units to establish STAR bond districts. These districts can impose a tourism tax on admission and amusement charges from businesses within the district, at a rate not exceeding 9% of gross receipts. The tax is not imposed on sales of aviation fuel if the revenue is used for airport-related purposes. The tax revenue is collected and enforced by the Department of Revenue.
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