Illinois Code § 2-6

§ 2-6.

Building materials exemption; intermodal terminal facility areas. Each retailer that makes a qualified sale of building materials to be incorporated into real estate in a redevelopment project area within an intermodal terminal facility area in accordance with Section 11-74.4-3.1 of the Illinois Municipal Code by remodeling, rehabilitating, or new construction may deduct receipts from those sales when calculating the tax imposed by this Act. For purposes of this Section, "qualified sale" means a sale of building materials that will be incorporated into real estate as part of an industrial or commercial project for which a Certificate of Eligibility for Sales Tax Exemption has been issued by the corporate authorities of the municipality in which the building project is located. To document the exemption allowed under this Section, the retailer must obtain from the purchaser a copy of the Certificate of Eligibility for Sales Tax Exemption issued by the corporate authorities of the municipality in which the real estate into which the building materials will be incorporated is located. The Certificate of Eligibility for Sales Tax Exemption must contain all of the following: (1) A statement that the commercial or industrial project identified in the Certificate meets all the requirements of the jurisdiction in which the project is located. (2) The location or address of the building project. (3) The signature of the chief executive officer of the municipality in which the building project is located, or the chief executive officer's delegate. In addition, the retailer must obtain a certificate from the purchaser that contains all of the following: (1) A statement that the building materials are being purchased for incorporation into real estate located in an intermodal terminal facility area included in a redevelopment project area in accordance with Section 11-74.4-3.1 of the Illinois Municipal Code. (2) The location or address of the real estate into which the building materials will be incorporated. (3) The name of the intermodal terminal facility area in which that real estate is located. (4) A description of the building materials being purchased. (5) The purchaser's signature and date of purchase. The provisions of this Section are exempt from Section 2-70. (Source: P.A. 94-781, eff. 5-19-06.)