IL SB3498 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-02-09 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-02-09 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Creates the Short-Term Rental Occupation Tax Act. Imposes taxes upon short-term rental transactions facilitated by a hosting platform. Provides that one tax is imposed at the rate of 5% of 94% of the gross rental receipts from the transaction. Provides that an additional tax is imposed at the rate of 1% of 94% of the gross rental receipts from the transaction. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Amends the Counties Code and the Illinois Municipal Code to make conforming changes. Effective immediately.
Title
SHORT-TERM RENTAL TAX ACT
Sponsors
History
Date | Chamber | Action |
---|---|---|
2024-02-09 | Senate | Referred to Assignments |
2024-02-09 | Senate | First Reading |
2024-02-09 | Senate | Filed with Secretary by Sen. Cristina Castro |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
5 | 140 | 7.5 | Amended Code | Citation Text |
55 | 5 | 5-1030 | Amended Code | Citation Text |
65 | 5 | 8-3-13 | Amended Code | Citation Text |
65 | 5 | 8-3-14 | Amended Code | Citation Text |
65 | 5 | 8-3-14a | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3498&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
Text | https://www.ilga.gov/legislation/103/SB/10300SB3498.htm |