Illinois House Bill 4344 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 1)
Status: Introduced on January 4 2022 - 25% progression, died in committee
Action: 2022-02-18 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Use Tax Act, the Retailers' Occupation Tax Act, the Aircraft Use Tax Law, and the Watercraft Use Tax Law. Provides that the taxes under those Acts do not apply to transfers that occur between a natural individual and (i) a revocable trust where the transferor is the grantor of the trust or (ii) a business entity if the transferor has ownership or control of the business entity. Provides that the transferor must retain a beneficial interest in the property, and the property must be transferred without valuable consideration.

USE/OCC TAX-EXEMPT TRANSFERS

Rep. Amy Elik [R]

Date	Chamber	Action
2022-02-18	House	Rule 19(a) / Re-referred to Rules Committee
2022-02-15	House	To Sales, Amusement, & Other Taxes Subcommittee
2022-02-09	House	Assigned to Revenue & Finance Committee
2022-01-05	House	Referred to Rules Committee
2022-01-05	House	First Reading
2022-01-04	House	Filed with the Clerk by Rep. Amy Elik

Chapter	Article	Section	Citation Type	Statute Text
35	105	2	Amended Code	Citation Text
35	120	1	Amended Code	Citation Text
35	157	10-15	Amended Code	Citation Text
35	158	15-10	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4344&GAID=16&DocTypeID=HB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/HB/10200HB4344.htm