Bill Status of HB2824 102nd General Assembly
Short Description: USE/OCC-TRADE-IN VALUE
Rep. Keith P. Sommer
| 3/27/2021||House||Rule 19(a) / Re-referred to Rules Committee|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that the term "selling price" does not include the value of or credit given for traded-in tangible personal property (currently, beginning on January 1, 2020, with respect to motor vehicles, "selling price" does include the trade-in value). Effective immediately.