Illinois House Bill 2701 (Prior Session Legislation)

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Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 1)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

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.

RENTAL-PURCHASE TAX

Rep. Jay Hoffman [D]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2017-03-31	House	Rule 19(a) / Re-referred to Rules Committee
2017-03-22	House	To Real & Personal Property Law Subcommittee
2017-03-09	House	To Sales and Other Taxes Subcommittee
2017-02-22	House	Assigned to Revenue & Finance Committee
2017-02-08	House	Referred to Rules Committee
2017-02-08	House	First Reading
2017-02-08	House	Filed with the Clerk by Rep. Jay Hoffman

Chapter	Article	Section	Citation Type	Statute Text
35	105	3-5	Amended Code	Citation Text
35	120	2-5	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2701&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB2701.htm