TARIFF TRANSPARENCY ACT

Illinois General Assembly - Full Text of SB2957

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB2957

Introduced 1/27/2026, by Sen. Steve Stadelman

SYNOPSIS AS INTRODUCED:

New Act
815 ILCS 505/2MMMM new

Creates the Tariff Transparency Act. Provides that a retail
establishment shall disclose the percentage or dollar amount of the retail
price of a retail product that is attributable to tariffs. Sets forth
requirements for the disclosure. Requires retail establishments and
wholesale trade firms to maintain specified records. Provides that all
retail establishments subject to the Act shall be subject to periodic
audits. Provides that a violation of the Act is an unlawful practice under
the Consumer Fraud and Deceptive Business Practices Act. Sets forth
provisions concerning exemptions; rulemaking; public notice; and a
compliance schedule. Amends the Consumer Fraud and Deceptive Business
Practices Act to make a conforming change. Effective 90 days after
becoming law.
LRB104 16966 SPS 30380 b

A BILL FOR

SB2957
LRB104 16966 SPS 30380 b
1

AN ACT concerning business.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 1.
Short title.
This Act may be cited as the
Tariff
5
Transparency Act.

6

Section 5.
Definitions.
As used in this Act:
7

"Consumer" means a natural person living in this State.
8

"Retail establishment" means any business establishment,
9
operating at a physical or virtual location, that engages in
10
selling retail products or services directly to consumers in
11
this State.
12

"Retail price" means the posted price available to any
13
customer of the retail establishment.
14

"Retail product" means any merchandise, article, or
15
commodity of any kind or class produced, distributed, or
16
offered for retail sale for consumption by individuals other
17
than at the retail establishment, or in the performance of
18
services rendered within the household, and that is consumed
19
or expended in the course of use.
20

"Tariff" means any duty or trade-related import tax paid,
21
as required by United States Customs and Border Protection, on
22
any incoming raw material, component, or retail product at the
23
point of entry.

SB2957
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LRB104 16966 SPS 30380 b
1

"Wholesale trade firm" means any business establishment
2
that purchases raw materials, components, or retail products
3
in bulk quantities for the purpose of reselling the goods to
4
retail establishments.

5

Section 10.
Tariff cost disclosure.
6

(a) A retail establishment shall disclose the percentage
7
or dollar amount of the retail price of a retail product that
8
is attributable to tariffs.
9

(b) The disclosure of the tariff portion of the retail
10
price required under subsection (a) shall be:
11

(1) visible on the point of sale display tag;
12

(2) visible on the online product page;
13

(3) itemized on the printed receipt provided at the
14

conclusion of the point of sale transaction; or
15

(4) disclosed in a manner deemed appropriate by the
16

Attorney General.

17

Section 15.
Recordkeeping requirements.
18

(a) A retail establishment shall maintain records of
19
tariff calculations based on, as applicable, wholesale
20
invoices, customs invoices, tariffs schedules, and import duty
21
records.
22

(b) A wholesale trade firm that provides retail products
23
to retail establishments shall maintain records on tariffs
24
paid, including, but not limited to, United States Customs and

SB2957
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LRB104 16966 SPS 30380 b
1
Border Protection filings, invoices to retailers and other
2
direct customers, tariff schedules, and import duty records.
3
The wholesale trade firm shall provide a retail establishment
4
with any information concerning tariffs that is necessary for
5
the retail establishment to comply with this Act.

6

Section 20.
Audit requirements.
7

(a) All retail establishments subject to this Act shall be
8
subject to periodic audits. All audit compliance requirements
9
shall be determined by the Attorney General by rule.
10

(b) An audit related to tariff pricing disclosure as
11
required under subsection (a) shall be limited to compliance
12
with this Act and shall not be used to provide the sole
13
evidence of violations of any other law.

14

Section 25.
Enforcement by Attorney General.
A violation
15
of any of the provisions of this Act is an unlawful practice
16
under the Consumer Fraud and Deceptive Business Practices Act.
17
All remedies, penalties, and authority granted to the Attorney
18
General by that Act shall be available to him or her for the
19
enforcement of this Act.

20

Section 30.
Exemptions.
This Act does not apply to:
21

(1) retail establishments generating less than
22

$500,000 in annual revenue; and
23

(2) retail products on which the tariff-related price

SB2957
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LRB104 16966 SPS 30380 b
1

impact is less than 2% of the final retail price.

2

Section 35.
Rulemaking.
The Attorney General shall adopt
3
rules to provide for the manner in which the tariff portion of
4
a retail price shall be calculated and displayed and to
5
establish and modify a list of retail products and retail
6
establishments exempt from the requirements of this Act. The
7
Attorney General shall not exempt retail products or retail
8
establishments from the requirements of this Act except where
9
compliance would be impractical, unreasonably burdensome, or
10
unnecessary for adequate protection of consumers.

11

Section 40.
Public notice.
The Attorney General shall
12
maintain and make available to the public a list of specific
13
retail products and specific retail establishments exempt from
14
the requirements of this Act and a list of all classes of
15
retail products and all classes of retail establishments
16
required to be in compliance with this Act.

17

Section 45.
Compliance schedule.
18

(a) During the first 6-month period immediately following
19
the effective date of this Act, compliance with this Act shall
20
be voluntary.
21

(b) During the second 6-month period immediately following
22
the effective date of this Act, retail establishments that
23
have $5,000,000 or more in annual sales and are not otherwise

SB2957
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LRB104 16966 SPS 30380 b
1
exempt from this Act shall comply with this Act.
2

(c) One year after the effective date of this Act, all
3
retail establishments that are not otherwise exempt from this
4
Act shall comply with this Act.

5

Section 90.
The Consumer Fraud and Deceptive Business
6
Practices Act is amended by adding Section 2MMMM as follows:

7

(815 ILCS 505/2MMMM new)
8

Sec. 2MMMM.
Violations of the Tariff Transparency Act.
A
9
person who violates the Tariff Transparency Act commits an
10
unlawful practice within the meaning of this Act.

11

Section 99.
Effective date.
This Act takes effect 90 days
12
after becoming law.

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