(a) Each month, from the net revenue realized for the preceding month, the Department shall pay an amount estimated by the Department to be required for refunds of the tax under this Act, which shall be deposited into the Rental Purchase Agreement Tax Refund Fund.
     (b) Of the remainder of funds after the deposit under subsection (a) of this Section:
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Terms Used In Illinois Compiled Statutes 35 ILCS 180/25

  • Month: means a calendar month, and the word "year" a calendar year unless otherwise expressed; and the word "year" alone, is equivalent to the expression "year of our Lord. See Illinois Compiled Statutes 5 ILCS 70/1.10
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

         (1) each month the Department shall pay into the
    
State and Local Sales Tax Reform Fund 20% of the net revenue realized for the preceding month from the tax imposed under this Act; and
        (2) each month the Department shall pay into the
    
General Revenue Fund 80% of the net revenue realized for the preceding month from the tax imposed under this Act.
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