§ 100.52. - Tax imposed.
(a) A tax is hereby imposed upon all persons engaged in the business of selling tangible personal property, other than an item of tangible personal property titled or registered with an agency of this state's government, at retail in this municipality at the rate of 2.25% of the gross receipts from such sales made in the course of such business while this ordinance is in effect; and a tax is hereby imposed upon all persons engaged in this municipality in the business of making sales of service, at the rate of 2.25% of the selling price of all tangible personal property transferred by such serviceman as an incident to a sale of service provided, however, that such rate shall be reduced by 0.25% as soon as is practicable after the date of full repayment of any bonds issued by the City of Springfield, or any refunding bonds issued for such bonds by the City of Springfield.
The imposition of these home rule taxes are in accordance with the provisions of 65 ILCS 5/8-11-1 and 65 ILCS 5/8-11-5.
(b) 0.25% of the gross receipts and the selling price collected pursuant to Section 100.52(a) shall be deposited into Fund 095 except as provided for in ordinance 100-02-17 for FY 2018.
(c) 0.5% of the gross receipts and the selling price collected pursuant to Section 100.52(a) shall be dedicated to the repayment of indebtedness, bonds, loans or other obligation of the City of Springfield issued or associated with the capital improvements for the roads, sidewalks and storm sewers, for such time as any such indebtedness, bond, loan or other obligation remains due and owing. At the end of each fiscal year money not used or allocated for debt or bond service shall be moved from the 095 fund sub-account into the main 095 fund except as provided for in appropriation ordinance 100-02-17 for FY 2018.
(Ord. No. 111-03-04, § 1, 3-2-04; Ord. No. 827-12-05, § 1, 12-6-05; Ord. No. 310-05-09, § 1, 6-9-09; Ord. No. 140-4-13, § 1, 4-16-13; Ord. No. 164-04-17, § 1, 4-4-17)
