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.

Spectrum: Bipartisan Bill

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

Text: Latest bill text (Chaptered) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Thomas Cullerton [D]	Primary	Sponsored Bills	SD-023	FollowTheMoney	Ballotpedia	VoteSmart
Senator Neil Anderson [R]	Cosponsor	Sponsored Bills	SD-047	FollowTheMoney	Ballotpedia	VoteSmart
Senator Dale Fowler [R]	Cosponsor	Sponsored Bills	SD-059	FollowTheMoney	Ballotpedia	VoteSmart
Senator Andy Manar [D]	Cosponsor	Sponsored Bills	SD-048	FollowTheMoney	Ballotpedia	VoteSmart
Senator Bill Brady [R]	Cosponsor	Sponsored Bills	SD-044	FollowTheMoney	Ballotpedia	VoteSmart
Senator William McCann [R]	Cosponsor	Sponsored Bills	SD-050	FollowTheMoney	Ballotpedia	VoteSmart
Senator Dale Righter [R]	Cosponsor	Sponsored Bills	SD-055	FollowTheMoney	Ballotpedia	VoteSmart
Senator Laura Murphy [D]	Cosponsor	Sponsored Bills	SD-028	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jay Hoffman [D]	Primary	Sponsored Bills	HD-113	FollowTheMoney	Ballotpedia	VoteSmart
Representative John Cabello [R]	Cosponsor	Sponsored Bills	HD-090	FollowTheMoney	Ballotpedia	VoteSmart

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