LAUZEN-PETERSON AND FITZGERALD. (MOORE,ANDREA-FANTIN-CURRY,JULIE) 35 ILCS 105/3-5 from Ch. 120, par. 439.3-5 35 ILCS 120/2-5 from Ch. 120, par. 441-5 55 ILCS 5/5-1006 from Ch. 34, par. 5-1006 55 ILCS 5/5-1006.5 65 ILCS 5/8-11-1 from Ch. 24, par. 8-11-1 65 ILCS 5/8-11-1.3 from Ch. 24, par. 8-11-1.3 65 ILCS 5/8-11-1.6 Amends the Use Tax Act, the Retailers' Occupation Tax Act, the Counties Code, and the Illinois Municipal Code. Exempts qualified technological equipment as defined in Section 168(c)(3)(B)(iv) of the Internal Revenue Code that was purchased by a lessor who has elected to pay retailers' occupation tax based on the lessor's gross receipts from the lease of the equipment in this State to a lessee for his or her use and not for the purpose of sublease. Provides that, for purposes of determining the local governmental unit whose tax is applicable, a retail sale by a lessor is a sale at retail at the place where leased tangible personal property is located. Effective immediately. SENATE AMENDMENT NO. 1. Changes a reference to the Internal Revenue Code. Exempts the deduction from the sunset provision of the Use Tax Act and the Retailers' Occupation Tax Act. Defines "lease". Provides that the amount of retailer's occupation tax imposed shall be reduced by an amount equal to the percentage limitation of the use tax exemption. States that subsequent sales or leases of property for which the election for the lessor to pay the tax was made shall not be exempt. Limits the use tax exemption to 50% of the tax that otherwise would have been due for property delivered in this State before July 1, 1998 and 75% of the tax that would otherwise have been due for property delivered to the lessor in this State during the period of July 1, 1998 through June 30, 1999. 97-02-05 S FIRST READING 97-02-05 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-06 S ASSIGNED TO COMMITTEE REVENUE 97-02-28 S POSTPONED 97-03-06 S POSTPONED 97-03-13 S AMENDMENT NO. 01-REVENUE S 97-03-13 S ADOPTED 97-03-13 S DO PASS AS AMENDED 009-000-000 SREV 97-03-13 S PLACED ON CALENDAR ORDER OF 2ND READING 97-03-14 97-03-17 S SECOND READING 97-03-17 S PLACED ON CALENDAR ORDER OF 3RD READING 97-03-18 97-03-17 S ADDED AS A CHIEF CO-SPONSOR PETERSON 97-03-18 S ADDED AS A CO-SPONSOR FITZGERALD 97-03-19 S THIRD READING - PASSED 054-001-000 97-03-19 H ARRIVE IN HOUSE 97-03-19 H PLACED CALENDAR ORDER OF FIRST READING 97-03-26 H HOUSE SPONSOR MOORE,ANDREA 97-04-08 H FIRST READING 97-04-08 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-04-09 H ASSIGNED TO COMMITTEE REVENUE 97-05-08 H DO PASS/SHORT DEBATE 011-000-000 HREV 97-05-08 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-05-09 H SECOND READING-SHORT DEBATE 97-05-09 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-05-12 H THIRD READING/SHORT DEBATE/PASSED 114-002-000 97-05-12 S PASSED BOTH HOUSES 97-05-12 H ADDED AS A JOINT SPONSOR FANTIN 97-05-12 H ADDED AS A JOINT SPONSOR CURRY,JULIE 97-06-10 S SENT TO THE GOVERNOR 97-08-01 S GOVERNOR VETOED 97-10-16 S PLACED CALENDAR TOTAL VETO OCTOBER 28, 1997 97-10-30 S TOTAL VETO STANDS END OF INQUIRY Full Text Bill Summary