RETAILERS OCCUPATION TAX

Amends the Counties Code and the Illinois Municipal Code. Provides that, on and after July 1, 2003, neither a county board nor the corporate authorities of a municipality may enter into or renew any agreement with a retailer to share or rebate any portion of retailers' occupation taxes generated by retail sales of tangible personal property if: (1) the tax on those retail sales, notwithstanding the agreement, has previously been paid to another unit of local government; and (2) the retailer continues to maintain a retail location or warehouse, within that other unit of local government, from which the tangible personal property is delivered to purchasers. Provides that any unit of local government denied retailers' occupation tax revenue because of such an agreement may file an action in circuit court against the municipality or the county, as the case may be, or against the retailer, or both. Provides that if the unit of local government prevails in the circuit court action, it is entitled to damages in the amount of the tax revenue it was denied as a result of the agreement, statutory interest, costs, reasonable attorneys' fees, and an amount equal to 50% of the tax. Effective immediately.