Bill might lower prices of gas in coming months
April 6, 1998
Illinois may see lower gas prices in the near future, now that a bill designed to remove the state sales tax on gas has been passed by the Illinois Senate.
The intent of the bill is to regain an estimated $100 million lost in tax revenues annually from people crossing borders at Indiana, Missouri and Iowa to avoid Illinois’ 5 percent sales tax on gas.
The bill, known as SB 1458, contains a clause stating that if the state does not see a significant increase in gas sales, the tax will be reinstated Jan. 1, 2003.
Advertisement
The bill now is in the Illinois House of Representatives.
Advertisement