Date	Chamber	Action
1/10/2017	Senate	Session Sine Die

Statutes Amended In Order of Appearance

35 ILCS 105/2

from Ch. 120, par. 439.2

35 ILCS 120/1

from Ch. 120, par. 440

Synopsis As Introduced
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, with respect to tangible personal property that is sold for the purpose of leasing the property in Illinois for a defined period, the term "selling price" means the consideration received by the lessor pursuant to the lease contract, including amounts due at lease signing and all monthly or other regular payments charged over the term of the lease. Provides that, for those items of tangible personal property, "selling price" also includes amounts received from the lessee that are not calculated at the time the lease is executed.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that, for tangible personal property that is subject to a rental-purchase agreement, "selling price" or "amount of sale" means consideration received by the merchant pursuant to the rental-purchase agreement, including amounts due at signing and all monthly or other regular payments charged over the term of the agreement. Provides that the merchant (instead of the retailer who sells the property to the merchant) assumes the liability for reporting, collecting, and remitting tax.

Actions 

Date	Chamber	Action
2/3/2015	Senate	Filed with Secretary by Sen. Thomas Cullerton
2/3/2015	Senate	First Reading
2/3/2015	Senate	Referred to Assignments
2/11/2015	Senate	Assigned to Revenue
3/5/2015	Senate	To Subcommittee on Special Issues (RV)
3/12/2015	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Thomas Cullerton
3/12/2015	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/17/2015	Senate	Senate Committee Amendment No. 1 Assignments Refers to Revenue
3/25/2015	Senate	Reported Back To Revenue; 003-000-000
3/25/2015	Senate	Senate Committee Amendment No. 1 Reported Back To Revenue; 003-000-000
3/25/2015	Senate	Senate Committee Amendment No. 1 Adopted
3/26/2015	Senate	Do Pass as Amended Revenue; 008-003-000
3/26/2015	Senate	Placed on Calendar Order of 2nd Reading April 14, 2015
4/16/2015	Senate	Second Reading
4/16/2015	Senate	Placed on Calendar Order of 3rd Reading April 21, 2015
4/24/2015	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2015
5/6/2015	Senate	Added as Co-Sponsor Sen. Wm. Sam McCann
5/15/2015	Senate	Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2015
10/8/2015	Senate	Rule 2-10 Third Reading Deadline Established As October 20, 2015
10/10/2015	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
1/10/2017	Senate	Session Sine Die

Back To Top