Illinois General Assembly - Bill Status for SB3498

Synopsis As Introduced
Creates the Short-Term Rental Occupation Tax Act. Imposes taxes upon short-term rental transactions facilitated by a hosting platform. Provides that one tax is imposed at the rate of 5% of 94% of the gross rental receipts from the transaction. Provides that an additional tax is imposed at the rate of 1% of 94% of the gross rental receipts from the transaction. Provides that operators of short-term rentals shall obtain a business license from the Department of Revenue. Amends the Counties Code and the Illinois Municipal Code to make conforming changes. Effective immediately.

Actions

Date	Chamber	Action
2/9/2024	Senate	Filed with Secretary by Sen. Cristina Castro
2/9/2024	Senate	First Reading
2/9/2024	Senate	Referred to Assignments

×