Bill Title: 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.

Sponsorship: Bipartisan Bill

Status: (Passed) 2017-08-25 - Public Act . . . . . . . . . 100-0437 [SB1434 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2017-08-28	HTML/Text	Link	View
Enrolled	2017-06-06	HTML/Text	Link	View
Engrossed	2017-05-04	HTML/Text	Link	View
Introduced	2017-02-09	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 001	2017-05-23	Proposed	HTML/Text	Link	View
Senate Amendment 002	2017-04-24	Proposed	HTML/Text	Link	View
Senate Amendment 001	2017-03-09	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1434 currently on file.