Illinois General Assembly - Bill Status for SB2180
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 Bill Status of SB2180  102nd General Assembly


Short Description:  USE/OCC TX-LEASED PROPERTY

Senate Sponsors
Sen. Elgie R. Sims, Jr.

Last Action
DateChamber Action
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 105/2from Ch. 120, par. 439.2
35 ILCS 105/3-5
35 ILCS 120/1from Ch. 120, par. 440
35 ILCS 120/2-5
35 ILCS 120/2cfrom Ch. 120, par. 441c


Synopsis As Introduced
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, for any leased property (currently, for motor vehicles only), "selling price" means the consideration received by the lessor pursuant to the lease contract and includes certain amounts received by the lessor that are not calculated at the time the lease is executed. Provides for an exemption to the extent of any personal property lease transaction tax paid to a home rule municipality. Provides that a sale of tangible personal property shall be made tax-free on the ground of being a sale for resale or lease (currently, for resale) if the purchaser has an active registration number or resale number from the Department of Revenue and furnishes that number to the seller in connection with certifying to the seller that any sale to such purchaser is nontaxable because of being a sale for resale or lease (currently, for resale). Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Elgie R. Sims, Jr.
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/16/2021SenateAssigned to Revenue
  4/16/2021SenateRule 3-9(a) / Re-referred to Assignments

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