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News & Press: Legislative Issues

Local Government Revenues Threatened

Monday, May 14, 2012   (0 Comments)
Posted by: Shannon Sartain
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Legislative Update #14-2012
Many IAPD member agencies receive a portion of the Personal Property Replacement Tax (PPRT) fund collected by the Illinois Department of Revenue. Personal property replacement taxes are local revenues paid to some local taxing districts as a "replacement” of the tax revenue they lost when their powers to impose personal property taxes on corporations, partnerships, and other business entities were taken away in the 1970's.