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 Bill Status of HB2701  100th General Assembly


Short Description:  RENTAL-PURCHASE TAX

House Sponsors
Rep. Jay Hoffman

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
New Act
35 ILCS 105/3-5
35 ILCS 120/2-5


Synopsis As Introduced
Creates the Rental Purchase Agreement Occupation and Use Tax Act. Provides that an occupation tax is imposed upon persons engaged in this State in the business of renting merchandise under a rental-purchase agreement in Illinois, at the rate of 6.25% of the gross receipts received from such business. Provides that a corresponding use tax is imposed upon the privilege of using merchandise rented under a rental-purchase agreement in Illinois at the rate of 6.25% of the gross receipts received from such business. Provides for the imposition and collection of both taxes by the Department of Revenue, and for the filing of returns and the payment of taxes imposed under this Act. Provides the Department of Revenue with rulemaking authority. Amends the Use Tax Act and the Retailers' Occupation Tax Act to make conforming changes. Effective immediately.

Actions 
DateChamber Action
  2/8/2017HouseFiled with the Clerk by Rep. Jay Hoffman
  2/8/2017HouseFirst Reading
  2/8/2017HouseReferred to Rules Committee
  2/22/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Sales and Other Taxes Subcommittee
  3/22/2017HouseTo Real & Personal Property Law Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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