92nd General Assembly
Status of SB1853
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WALSH,T-DELEO.

   New Act                                                                     
   30 ILCS 105/6z-18         from Ch. 127, par. 142z-18                        
   30 ILCS 105/6z-20         from Ch. 127, par. 142z-20                        
   35 ILCS 105/1a            from Ch. 120, par. 439.1a                         
   35 ILCS 105/3-10          from Ch. 120, par. 439.3-10                       
   35 ILCS 105/9             from Ch. 120, par. 439.9                          
   35 ILCS 120/1c            from Ch. 120, par. 440c                           
   35 ILCS 120/2-10          from Ch. 120, par. 441-10                         
   35 ILCS 120/3             from Ch. 120, par. 442                            

        Creates the  Automobile  Leasing  Occupation  and  Use  Tax  Act.      
   Imposes  a  tax  at  the rate of 5% of the gross receipts upon persons      
   engaged in the business of leasing automobiles and a tax at  the  rate      
   of  5%  of the leasing price upon the privilege of using in this State      
   an automobile that is leased from a lessor.  Amends the State  Finance      
   Act,  the Use Tax Act, and the Retailers' Occupation Tax Act.  Imposes      
   a use tax and a retailers' occupation tax at the rate of 1.25% on  any      
   motor  vehicle  that  is  sold  to a lessor for the purpose of leasing      
   under a lease subject to the Automobile Leasing Occupation and Use Tax      
   Act.  Imposes a tax at the rate of 5% on a motor vehicle that has been      
   leased by a lessor to a lessee under a lease that is  subject  to  the      
   Automobile Leasing Occupation and Use Tax Act and is subsequently sold      
   to  the  lessee  of  the  vehicle.   Provides  for the distribution of      
   proceeds of the tax.  Effective July 1, 2002.                               
   FEB-06-2002  S  FIRST READING                                                  
   FEB-06-2002  S  ADDED AS A CHIEF CO-SPONSOR              DELEO                 
   FEB-06-2002  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   JAN-07-2003  S  SESSION SINE DIE                                               

   END OF INQUIRY 



 Full Text  Bill Summary