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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Voting Records

Chamber	Vote	Date	Yea	Nay	NV	Abs	Total	Result	Source	View
Senate	Concurrence in Senate	2017-05-31	53	0	6	0	59	Passed	Link	View
House	Third Reading in House	2017-05-30	98	18	1	1	118	Passed	Link	View
Senate	Third Reading in Senate	2017-05-04	53	0	6	0	59	Passed	Link	View

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