Bill Title: Creates the Short-Term Rental Operators' Occupation Tax Act. Imposes a tax upon persons engaged in the business of short-term rental at the rate of 5% of 94% of the gross rental receipts from such renting, leasing or letting. Imposes an additional tax at the rate of 1% of 94% of the gross rental receipts from such renting, leasing or letting. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Effective October 1, 2020.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Failed) 2021-01-13 - Session Sine Die
[SB3386 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
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| Introduced | 2020-02-13 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois SB3386 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois SB3386 currently on file. |
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