A municipality or county that receives a disbursement of tax proceeds from the Department may contract with a third party for the purpose of ensuring that the municipality or county receives the correct disbursement from the Department and monitoring disbursements. The third party may not contact the Department on behalf of the municipality or county, but instead must work directly with the municipality or county to acquire financial information. A third party may, however, directly access a municipality’s or county’s financial information that is provided by the Department by electronic means under Section 11 of the Retailers’ Occupation Tax Act, provided that the third party meets all other conditions under this Section for the receipt of financial information. To be eligible to receive financial information from the municipality or county, the third party must:
         (1) enter into a confidentiality agreement with the
    
municipality or county in the form and manner required by the Department prior to receiving the financial information;
        (2) have an existing contract with the municipality
    
or county at the time the third party enters into the confidentiality agreement with the municipality or county; a copy of that existing contract must be on file with the Department;
        (3) abide by the same conditions as the municipality
    
or county with respect to the furnishing of financial information under Section 11 of the Retailers’ Occupation Tax Act; and
        (4) be registered with the Department as required by
    
Section 5-35 of this Act.
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Illinois Compiled Statutes 50 ILCS 355/5-10

  • Contract: A legal written agreement that becomes binding when signed.
  • Department: means the Department of Revenue. See Illinois Compiled Statutes 50 ILCS 355/5-5
  • Financial information: means the information provided to the municipality or county by the Department under Section 11 of the Retailers' Occupation Tax Act that is reported to the Department by a business located in a given municipality or county. See Illinois Compiled Statutes 50 ILCS 355/5-5
  • Monitoring disbursements: means keeping track of payments from the Department by a municipality, county, or third party for the limited purpose of tracking previous misallocations. See Illinois Compiled Statutes 50 ILCS 355/5-5
  • Third party: means a person, partnership, corporation, or other entity or individual registered to do business in Illinois who contracts with a municipality or county to review financial information related to the disbursement of local taxes by the Department to the municipality or county. See Illinois Compiled Statutes 50 ILCS 355/5-5
  Previous section
Next section  
 Article 5 Contents