Bill Status of SB3498  103rd General Assembly


Short Description:  SHORT-TERM RENTAL TAX ACT

Senate Sponsors
Sen. Cristina Castro

Last Action
DateChamber Action
  2/9/2024SenateReferred to Assignments

Statutes Amended In Order of Appearance
New Act
5 ILCS 140/7.5
55 ILCS 5/5-1030from Ch. 34, par. 5-1030
65 ILCS 5/8-3-13from Ch. 24, par. 8-3-13
65 ILCS 5/8-3-14from Ch. 24, par. 8-3-14
65 ILCS 5/8-3-14a


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 
DateChamber Action
  2/9/2024SenateFiled with Secretary by Sen. Cristina Castro
  2/9/2024SenateFirst Reading
  2/9/2024SenateReferred to Assignments